Price of Tungsten Products on May. 21, 2019

       Today's Rare Earth Market

Domestic rare earth prices are rising slowly, environmental stringency and industry consolidation continue to be good, and the recent ban on imports from Myanmar mines has intensified the expectation of tight market supply, coupled with Sino-US economic and trade frictions and product tariff adjustment, which has made the value of domestic rare earth resources more valued. On-site appeals for price increases are on the rise, but the slow recovery of demand side shows the fact that the psychological price of the market is divergent. The volume of delivery is limited.

Opening this week, tungsten prices in China maintain stability as most insiders are waiting for new round of guide price from large tungsten companies. Affected by the Sino-US economic and trade frictions, market participants are in the cautious sentiment, plus with declined orders from terminal side and the worry for Fanya’s stocks, tungsten concentrate price is under pressure. But the environmental protection inspections still offer support for the weakened market.

The China Tungsten Industry Association held a symposium on owners of tungsten enterprises, and proposed that the tungsten mine enterprises should reduce production, according to the report. The top ten domestic tungsten enterprises reached a unanimous agreement to maintain the supply order of the tungsten raw material market. This year, the production of tungsten concentrates is not lower than ten percent.