Analysis of latest tungsten market from Chinatungsten Online

China's tungsten exports have fallen significantly due to production cuts and weak global demand amid Covid-19 around the world. In 2020, China produced 138,612t of tungsten concentrate containing 65pc tungsten trioxide, down by 5.31pc from 146,380t in 2019. 

China rare earth price showed a strong increase in the week ended on Friday March 05, 2021 despite of deadlocked supply and demand in the market. The low-priced resources were hard to find under the situation.

China molybdenum price remained stable in the week ended on Friday March 05, 2021 as the market was in a stalemate.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten powder prices in China start to stabilize in early March, 2021 with more and more participants taking a watchful stance after a steadily increase in February. 

Rare earth market quotation in China: cerium oxide price remains stable while prices of praseodymium neodymium oxide and metal climb slightly on March 4, 2021. 

Bloomberg News quoted sources as saying that Chinese officials believe that China's rare earth processing technology has greater national interests than the resources themselves. Chinese media reported that the country’s capacity in separation and smelting is at the world's advanced level.

China has looked to reform the rare earth strategy to enhance efficiency, better protect the environment, crackdown on illegal mining, and improve processing technology. Chinese reserves rank first in the world. Chinese media reported that 90% of the reserves are concentrated in the Bayan Obo rare earth mine in Inner Mongolia.

China issued “Opinions” for supporting the revitalization and development of old revolutionary areas in the new era on February 20, 2021, which would greatly promote the transformation and upgrading of the tungsten and rare earth industry. The report pointed out that it will promote the construction of "China's Rare Gold Valley", to study the purchase and storage policy of medium and heavy rare earths and tungsten resources.

Researchers developed molybdenum composite materials to improve the hydrogen storage performance of magnesium hydride (MgH₂). It is reported that the team of Professor Zou Jianxin from the Hydrogen Science Center of Shanghai Jiaotong University used a molybdenum composite material to improve the hydrogen storage performance of magnesium hydride, that is, the bimetallic oxides NiMoO₄ and CoMoO₄ to significantly reduce the hydrogen release temperature of magnesium hydride and speed it up.

Analysis of latest tungsten market from Chinatungsten Online

Tight supply of tungsten concentrates and tungsten scrap in China has pushed intermediate prices to nearly two-year highs in February amid a pick-up in end-user demand.