Analysis of latest tungsten market from Chinatungsten Online

The tungsten prices in China remained weak adjustment in the week ended on Friday October 25, 2019 affected by the decline in new guide prices from listed tungsten companies early this week. the increased supply of raw materials but requiring lower prices of buyers made the market deadlocked. 

Rare earth market quotation in China: the latest prices of neodymium oxide, praseodymium neodymium oxide and praseodymium neodymium metal are in the downward trend in late October due to continued weakness in the demand side and capital shortage of some traders. But affected by high production costs and environmental checks, mainstream manufacturers keep firm offers.

Molybdenum market quotation in China: the latest molybdenum concentrate and ferro molybdenum prices declined slightly while ammonium heptamolvbdate price remains unchanged from last week. The market now is still in a stalemate at the end of October with persistent weakness in the demand side. 

The seabed is rich in rare earths and countries are delving deeper into the ocean to explore its mineral wealth. Michael Lodge, secretary-general of the UN's International Seabed Authority (ISA), pointed on October 23 that China will be expected to become a pioneer country in deep-sea mining to explore the seabed resource by 2026 after the adoption of relevant international regulations for the exploitation of seabed deposits next year.

The first rare earth aluminum alloy cable industrialization demonstration base of China Society for the Promotion of Science and Technology Commercialization was established recently. The rare earth aluminum alloy cable is a “rare earth alloy formula” with independent intellectual property rights, which is incorporated into pure aluminum, synthesized by a special process to improve the electrical conductivity, bending performance, creep resistance and corrosion resistance of the cable, making it more stable with a longer life cycle.

Rio Tinto is starting pilot production of lithium in California from waste rock instead of excavating new areas. According to MiningNews.net, the company found that the company could become the largest producer for metal batteries in the United States for the fast-growing electric vehicle market without newly developed mine.

Analysis of latest tungsten market from Chinatungsten Online

The tungsten power and ferro tungsten prices remain weak adjustment in China considering the increased supply of raw materials but limited transactions. The market is in a stalemate with weak confidence and thin trading. 

Chinese rare earth prices continued to show a downward trend in the week began on Monday October 21, 2019 on deadlocked supply and demand, and low trading activity. Affected by global economic slowdown, geopolitical turmoil and weak permanent magnet manufacturing industry, the purchasing power of downstream users is slightly insufficient, resulting in a slight increase in market supply. 

Chinese molybdenum prices were in the downward trend in the week ended on Friday October 25, 2019 as the mentality of the traders has been significantly affected under the situation that the steel market demand is generally low. The downstream buyers waited for lower prices and upstream sellers made offers rationally. 

Analysis of latest tungsten market from Chinatungsten Online

The tungsten market was weak in China in the week began on October 21 due to persistent weakness in the demand side and increased supply of tungsten raw materials. Offers in the market was in the chaos.