Analysis of latest tungsten market from Chinatungsten Online

The tungsten prices in China remained weak adjustment in the week ended on Friday November 8, 2019 due to the decline in tungsten forecast prices and new offers. Sellers has strong willingness in stabilizing current market prices, but the market was weak and the terminal side was under pressure. 

Rare earth prices in China are unchanged from last week on quiet market trading. Under the continuous pressure of environmental protection in various provinces and cities, the production in light and heavy rare earth smelters has slowed down, and the supply of spot goods has been slightly tightened. 

Molybdenum market quotation: the latest prices of ferro molybdenum and molybdenum concentrate declined slightly while molybdenum bar price remained unchanged from last week on deadlocked supply and demand in the market. 

Tungsten and rare earths production quotas released by the Ministry of Industry and Information Technology and the Ministry of Natural Resources. The two ministries jointly issued plans on the total amount of rare earth mining, smelting and separation control indicators and the total amount of tungsten mining control indicators for the year of 2019. The notice pointed out that rare earths and tungsten are products strictly controlled by the state in terms of total production control, and any unit or individual shall not produce without a plan or surpass plan.

Tungsten ore reserves have been increased fourfold since new China's founding, according to the "China Mineral Resources (CMR) Report 2019". Chinese major mineral resources have been identified as resource reserves growth, geological exploration investment growth and significantly prospecting achievements.

Lithium batteries will be scrapped by 1.2milllion tons between last year and 2030, driven by EV battery usage and portable electronics, according to data released by London-based storage recycling research group Circular Energy Storage.

Analysis of latest tungsten market from Chinatungsten Online

The new average tungsten forecast prices from China's Ganzhou Tungsten Association and offers from listed companies were released, which declined slightly compared with list time, weakening market confidence greatly. Therefore, market transactions were concluded rarely. 

Rare earth market quotation in China: terbium oxide, praseodymium oxide and neodymium oxide prices continued to declined in the week ended on Friday November 8, 2019 due to heavy wait-and-see atmosphere in the market. 

China molybdenum prices were in the downward trend in the week ended on Friday November 8, 2019 on thin market trading. The molybdenum concentrate market was weak because prices and quantity of steel tenders failed to meet market expectations. 

Lynas rare earth plant announced a partnership with the MARA Corporation Sdn Bhd to mark their collaboration on several key projects. Beside attracting downstream industries and customers, it will also neutralize the bottom stream of plants, and the NUF (Neutralisation Underflow Residue) residues are commercialized and refined into fertilizer for use by Malay farmers.