The latest prices of sodium molybdate, ammonium tetramolybdate, ammonium heptamolybdate and molybdenum bar are unchanged from the previous trading day in Chinese market.

Apollo Minerals Limited (ASX:AON) that is looking to capitalise on a resurgent tungsten price set out to restart the world’s highest grade tungsten mine.

Analysis of latest tungsten market from ChinaTungsten Online

Prices in Chinese tungsten market continue to maintain stability at the end of October. Affected by China environmental checks, the operating rate in the whole industry chain is at a relatively low level and both supply and demand is weak. The difficulty in sales of smelting factories presses product offers down. Market trading now is thin and most insiders wait and see the new tungsten forecast prices from institutions and large tungsten enterprises. 

The latest prices of neodymium oxide, praseodymium neodymium oxide and praseodymium neodymium metal decline slightly on Wednesday. Pressed by funds and demand, traders are will to sell products, which make insiders uncertain for market expectations. Purchasers now have strong wait-and-see mood. In the short term, rare earth price will be adjusted limitedly on the tightening availability of raw materials.

Molybdenum prices in China have stabilized at a relatively high level as the market gradually returns to rationality waiting for steel tenders and environmental protection’s influences on operating rate. 

Analysis of latest tungsten market from ChinaTungsten Online

With the stricter environmental protection and high production costs, customers are reluctant to purchase and thus trading volumes are thin. The whole market confidence is weak. Most insiders wait and see for the market outlook. Chinese tungsten market now is in a stalemate.

Rare earth market quotation in China: domestic rare earth price continues to remain weak adjustment on Tuesday. Weak demand presses the supply side that benefits from environmental checks while policy for purchasing and storage remains uncertain. The upstream market does not have enough strength to keep firm offer levels. Downstream factories also are cautious. On the whole, rare earth price will be weak at the end of this month. 

Chinese molybdenum prices continue to maintain stability compared with Monday as transactions at high prices are slow, prices and quantity of steel tenders need to be confirmed and insiders have a strong wait-and-see attitude. 

Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices remained weak adjustment in the week to Friday October 26. The new tungsten forecast prices released in last Monday were unchanged, and fewer new increased orders in downstream factories also weakened market confidence. Although costs supported the stabilization in tungsten raw material prices, trading prices moved lower. 

Rare earth market quotation in China: the latest prices of praseodymium oxide, europium oxide and praseodymium neodymium oxide are unchanged from last week on continued weak buying interests. The deadlocked supply and demand is hard to be eased while the policy side remains quiet. Market participants wait and see the next move in November.