At the beginning of the week, China’s domestic molybdenum market as a whole continued the stable trend of last week. Affected by the low enthusiasm of steel companies for bidding and the tepid international molybdenum market, traders were hesitant to enter the market, resulting in low spot liquidity on the market. 

An Australian think tank warned that China uses its near-monopoly trade in rare earth as a "weapon" against competitors. Jeffrey Wilson, director of research at the Perth USAsia Center, said that China's dominance allows it to use other countries to reduce emissions and even equip national defense forces.

China is the largest output country of rare earths, and the rare earth magnets are the critical components to provide the power for electric engines. As tensions between China and the United States intensify, Western automakers are trying to initiate a revolution in the key driving force of electric vehicles, reducing their dependence on magnets made of rare earth metals, and trying to reduce their dependence on China.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remains strong as a whole in late July. With the increase in cost of epidemic prevention, environmental protection, manpower, etc., and declined ore grades resulting in more difficulty of mining, manufacturers become more reluctant to sell their products. 

China rare earth market showed a mixed pattern in the week ended on Friday, July 23, 2021. At the beginning of the week, supported by favorable policies and supply, the prices of mainstream light and heavy rare earth products were adjusted upwards. However, the prices of some products rebounded towards the weekend. This was mainly because Insufficient follow-up of downstream demand.

China molybdenum market maintained stable operation as a whole in the week ended on Friday, July 23, 2021. With the continued weakening of positive factors, the cautious attitude of buyers and sellers has increased compared with last week, resulting in limited transactions.

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and ferro tungsten prices in China continue to keep firm affected by tight supply of raw materials despite of relative quite demand. Enterprises of the whole industry chain have to raise their offers one after another with the increase of production cost.  

China’s domestic rare earth market as a whole maintains an upward momentum with terbium oxide and dysprosium oxide prices continue to increase on July 22, 2021. Affected by the imbalance between supply and demand, the seller's market has a greater advantage, which is mainly reflected in the rising prices of praseodymium and dysprosium terbium products. 

Molybdenum market quotation in China: ammonium molybdate, sodium molybdate and molybdenum powder prices are unchanged from the previous trading day on July 22, 2021 due to relatively quiet trading activity. However, supported by the limited spot inventory, many industry insiders still have great expectations for the market outlook.

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices in China continue to keep firm affected by the rise in new bid prices from listed companies for the second half of July. The market confidence also was shored up by that.