Analysis of latest tungsten market from Chinatungsten Online

China tungsten carbide powder and cesium tungsten bronze prices continue to stabilize when new guide prices from tungsten institutions and listed companies are generally in line with current market price. In the short term, the market is likely to keep stable.

According to a circular issued by Yunnan province's Department of Natural Resources last week, Yunnan issued 2,615 mt of mining quotas for tungsten concentrate and 12 mt for rare earth in the first batch for 2020.

Tungsten industry in China of 2020 is facing downward pressure due to the slowdown of global economic growth and the occurrence of the global coronavirus crisis, orders of both domestic and foreign in the cemented carbide and special steel industries have declined, and it is the reason why companies concern of the prospect of the industry.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten bar prices in China continue to maintain stability due to persistent weakness in the demand side and heavy wait-and-see atmosphere in the market. The new guide prices from listed tungsten companies and institution were released, which stabilize on the whole. 

The neodymium oxide, lanthanum oxide and cerium oxide prices maintain stability in China as the coronavirus is getting better and better in foreign countries. 

The ammonium molybdate, ammonium heptamolvbdate and ferro molybdenum prices increased slightly under relatively active trading activity in the market. Under the increased demand from downstream and low inventories of raw materials, molybdenum concentrate enterprises keep firm offers.

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price in China remained stable in the first trading day after the holiday of May Day due to cautious sentiment of market participants. Raw material sellers have strong rised mentality while the demand side needs to be followed up. In the short term, market price would continue to stabilize. 

Rare earth market quotation in China: the latest of terbium oxide and dysprosium oxide declined slightly while praseodymium oxide price keeps stable in early May on weak market confidence and low trading activity. 

The latest prices of ferro molybdenum and molybdenum concentrate edge higher while molybdenum rod price remains stable in the Chinese market in early May due to increased trading activity of downstream. 

The US wants to curb its reliance on rare earth elements on China used to make weapons and high-tech equipment. The country only has one rare earths mine - MP Materials and government scientists have been told not to work with it because of its Chinese ties.