Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten concentrate markets continued to stabilize without showing signs of a recovery in the last trading day in May amid weak downstream demand and a sluggish export market.

Song Liping, Chairman of the Board of Supervisors of the Shanghai Futures Exchange, stated at the 18th Shanghai Derivatives Market Forum that in the next step, the Shanghai Futures Exchange will continue to supply serial products and advance the research and development of alumina, tungsten, magnesium, aluminum alloy, cobalt, rare earth and other varieties in an orderly manner. The listing work, with the on-market derivatives market as the core, promotes the establishment of an integrated derivatives market system.

Recently, the team of Prof. Akhilesh K. Gaharwar from Texas A&M University introduced a new type of near-infrared excitation in-situ gelling system, which is rich in defective molybdenum disulfide (MoS2) nanomaterials and sulfur. The discovery of this in-situ gelling system laid the foundation for the development of pharmaceutics and biotechnology.

Iluka Resources Limited previously disclosed that it is conducting a feasibility study to develop a fully integrated Eneabba rare earths refinery in Western Australia. The company also noted it is in extensive contact with the Australian government on this development.

Chinese dominance over critical minerals is more than rare earths, as the 2019 research report said that of the 35 key minerals in the United States, China is the largest supplier of 13 key minerals, and the country is also the largest producer of 19 critical minerals.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remained stable overall in the week ended on Friday May 28, 2021 as the market was caught in heavy wait-and-see atmosphere. Participants mainly took a watchful stance, waiting for new guidance for the next month. 

Rare earth market quotation in China: cerium oxide, praseodymium oxide and praseodymium neodymium oxide prices continued their upward trend in the last trading day on May 31, 2021 with low trading activity and limited deals concluded. 

Molybdenum market quotation in China: ferro molybdenum, molybdenum powder and molybdenum oxide prices are unchanged from last week in the last trading day on May 31, 2021 affected by weak demand and supply. 

Analysis of latest tungsten market from Chinatungsten Online

The export prices for Chinese ammonium paratungstate (APT) and tungsten powder were unchanged in the second half of May amid thin spot trading conditions. 

Rare Element Resources Ltd. is pleased to provide an update on the progress of the pre-evaluation negotiations with the US Department of Energy (DoE). As a member of the company consortium, the company will receive 21.9 million potential financial rewards in US dollars for the engineering, construction and operation of a rare earth separation and processing plant.