Analysis of latest tungsten market from Chinatungsten Online

The latest of ferro tungsten and tungsten bar prices in China remain weak adjustment in wake of low trading activity of downstream users and sluggish demand in the current international economic situation. 

Chinese rare earth prices continued to show different trends in the week ended on Friday March 13, 2020. The prices of neodymium oxide and praseodymium oxide declined slightly while DyFe and dysprosium oxide prices rose slightly. 

Chinese molybdenum prices maintained stability on the whole in the week ended on Friday March 13, 2020 due to the coronavirus affecting trading activity. Though China’s coronavirus situation has improved a lot, downstream manufacturing is yet to recover. Manufacturers hold a very cautious view on economic development after the virus and demand for upstream products. 

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten powder and ammonium metatungstate(APT) prices continue to decline owing to sluggish demand and weak market confidence. The new guide prices from listed tungsten companies and associations showed stabilization on the whole, but some companies lowered their offers. 

University of Science and Technology of China (USTC) has made breakthroughs in the high-performance integrated solid-state quantum memory based on rare earth doped crystals. Quantum memory is the core device for constructing a quantum network. It can effectively overcome the channel loss and thereby extend the working distance of quantum communication and can also integrate quantum computing and quantum sensing resources in different places.

On lithium and copper mining taxes, the mining and energy committee of Chile's lower chamber dispatched a bill last week, which would introduce a 3% tax on the value of the minerals extracted for companies that produce over 12,000t of fine copper or 50,000t of lithium a year. Similar initiative has also adopted in Argentina. The funds would be used to invest in the area where the mine is located to reduce the environmental damage caused by mining.

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It seems that 2020 is a year full of difficulties and challenges under the influence of COVID-19 spreading globally. Fortunately, based on our enough pre-prepared protection equipments, including facial masks, ethyl alcohol etc., all CTOMS’ facilities and offices are running now and none of our employees is infected.

As is known the COVID-19 is under primary control in China, and the situation is getting better. Though our business is not affected by the overall situation, actions should be taken to prevent its further outbreak. Therefore, here are several notices in order to protect all of us and ensure our stable cooperation:

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Lead and zinc ore prospecting breakthroughs are mainly concentrated in Central South Kazakhstan and Altai regions. In these areas, there are also prospecting potentials for tungsten, molybdenum, aluminum, tin, and other metal minerals, introduced by the Minister of Ecology, Geology and Natural Resources of the Republic of Kazakhstan, Magzum Mirzagaliyev recently.

The first Soryu-class diesel-electric attack submarine (SSK) SS-511 "Phoenix Dragon" equipped with Li-ion batteries has been commissioned by the Japan Maritime Self-Defense Force (JMSDF) in a ceremony held at the Mitsubishi Heavy Industries (MHI) facility in Kobe, in Hyogo Prefecture in west-central Japan on March 5. It is also the world's first conventional sub to replace traditional lead-acid batteries with a lithium battery.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices in the Chinese market remain weak adjustment affected by the imbalanced supply and demand and weakened market confidence.