Analysis of latest tungsten market from Chinatungsten Online

Early in April, Chinese tungsten market is caught in heavy wait-and-see atmosphere as the offer levels of tungsten prices are not settled down completely at the beginning of VAT reform. 

Rare earth market quotation in China: lanthanum oxide price remains stable while prices of praseodymium neodymium oxide and praseodymium neodymium metal edge lower from the previous trading day. On Monday, the listed prices of in Southern Rare Earth have been mixed. The continued decline in terbium oxide products indicates that the market is expected to enter the rangebound pattern. The praseodymium and neodymium product prices are in the downward trend due to weak demand and imbalanced supply and demand. 

China molybdenum prices are unchanged from the last trading day in the week to Wednesday April 3. With the support of high costs of molybdenum ores, molybdenum concentrate sellers have strong rised mentality and prices are at a relatively high level. 

W Resources says it has found new higher-grade zones at its Régua tungsten project in Northern Portugal.

So far, 2.73km of drilling has been completed at the project comprising 916m of diamond core drilling and 1,809m of reverse circulation drilling. Highlights included 29m at 0.75% WO3 and 6m at 0.43% WO3.

Analysis of latest tungsten market from Chinatungsten Online

In the first trading day of April, tungsten prices in China maintain stability compared with last month. The new policy of added-value tax (VAT) was officially implemented in April, which would affect the cost calculation of mainstream tungsten products.  

Rare earth market quotation in China: the latest prices of neodymium oxide, praseodymium neodymium oxide and praseodymium neodymium metal decline slightly in early April. Under the continued tightening availability of raw materials, dysprosium and terbium product prices maintain stability while praseodymium and neodymium product prices are still in the downward trend due to weak demand. 

Molybdenum market quotation in China: the latest prices of molybdenum powder, molybdenum concentrate and molybdenum bar are unchanged from the previous trading. In March, good performance in steel tenders and active trading in molybdenum concentrates offered supports for the market, so the prices of raw materials tended to stabilize. 

According to the Global Times, U.S. officials at the WTO on March 23 expressed concern about China's cessation of receiving foreign garbage and asked China to stop implementing relevant measures. In response, Chinese Foreign Ministry Spokesperson Hua Chunying criticized the US side's statement on the 26th that "the outline goes online" is very hypocritical, and the so-called concern "is unreasonable, unreasonable and lawless".

Analysis of latest tungsten market from Chinatungsten Online

Tungsten price in China maintained stability in March, affected by deadlocked supply and demand, declined offer levels of listed companies, increased mine production after the Two Sessions and worry for inventories in Fanya Metal. In addition, added-value tax in April will be declined, which makes traders slow down their pace in purchasing. 

Rare earth market quotation in China: domestic rare earth price remains stable in the first trading day of April. Prices of dysprosium and terbium products are in the upward trend owing to the tightening availability of raw materials; while prices of praseodymium and neodymium products tend to stabilize under pressure of reduced profits of traders. This week, the market will be caught in wait-and-see atmosphere, waiting for the new guide prices.