Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and ammonium metatungstate (APT) prices in China maintain stability in the first trading day on November 2, 2020 affected by many uncertainties in the world such as the US election, Brexit, and worsened coronavirus in European countries. 

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten powder prices in China declined slightly in the week ended on Friday October 30, 2020 when the market tended to stabilize with the impact of persistent weakness in the demand side. In the short term, market participants will focus on the US election and new guide prices for the first half of November.  

Rare earth market quotation in China: the praseodymium oxide and neodymium oxide prices pick up slightly while europium oxide price is unchanged from the previous trading day on November 2, 2020. At present, insiders have good confidence for the outlook. 

Molybdenum market quotation in China: ferro molybdenum, molybdenum powder and sodium molybdate prices maintain stability in the week began on Monday November 2, 2020 as the market is in a stalemate. 

Rare earth magnets are at the forefront of today's technology from computer hard drives, smart phones to earplugs and electric motors, making varieties of daily necessities getting smaller. While, rare earth elements (REEs) may be difficult to obtain, either because of their scarcity or the challenging geopolitical climate. Recently, scientists have discovered magnets based on rare earths that are more readily available, as well as some promising magnets that do not contain rare earths.

Recently, Baotou Rare Earth Research Institute's EASTO.1098 heat-insulating rare earth coating on glass was recognized as the first batch of new materials at the Inner Mongolia autonomous region level in 2020.

According to the latest figures from the International Molybdenum Association (IMOA), the global production in the second quarter of 2020 was 67,222 tons, an increase of 3% from the first quarter and a 3% increase from the second quarter of 2019, and South America has replaced China to become the global largest producer. Global use of molybdenum also rose by 3% to 126.9mlbs when compared to the previous quarter, but fell by 14% when compared to the same quarter of the previous year.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices in China remain weak adjustment in late October as the bidding among companies weakens industry confidence and drags down product prices. 

Rare earth market quotation in China: neodymium oxide and praseodymium neodymium oxide prices edged higher while europium oxide price remained stable in the week ended on Friday October 30, 2020 with the impact of increased market trading activity.

China molybdenum price kept stable in the week ended on Friday October 30, 2020 as traders held negative sentiment and insiders had different views for the outlook.