Analysis of latest tungsten market from Chinatungsten Online

Amidst tightened tungsten supply chain and increased environmental pressure on smelters, China tungsten prices continue to rise strongly in the first week after May Day.

Analysis of latest tungsten market from Chinatungsten Online

As summarized by Chinatungsten Online on Monday, the macroeconomic fluctuations and outlook for tungsten product prices during the May Day period are consistent, and similar to the increase in high-speed rail ticket prices, there has been a significant surge! 

Chinese rare earth prices remain relatively stable. With the supply and demand balance relatively stable and limited boost from positive news, both buyers and sellers are primarily engaging in essential transactions, resulting in few new orders. Today, the prices of praseodymium oxide, terbium oxide, and erbium oxide are holding steady at around 407,000 yuan per ton, 6,600 yuan per kilogram, and 315,000 yuan per ton, respectively.

The overall situation of the Chinese molybdenum market is relatively good. Influenced by various factors, the intense price bargaining between buyers and sellers is prominent. Suppliers are keen on holding prices, while buyers have a lower willingness to accept high prices, resulting in moderate market turnover.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain strong, stimulated by market news, and the bullish attitude of businesses persists within the positive cycle.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continue to show a strong trend, mainly driven by tight supply at the tungsten ore end. After the May Day holiday, major tungsten enterprises and hard alloy companies once again raised their long-term quotations and product prices, reflecting market cost pressures and triggering a new round of speculative sentiment.

Chinese rare earth market overall maintains a slightly strong trend on May 8, 2024. Although there are still a few products such as dysprosium iron alloy experiencing minor declines in price, many suppliers are unwilling to reduce prices and even tentatively raise their quotes. 

The overall center of Chinese molybdenum prices continues to shift slightly upward, with the price of molybdenum concentrates rising by about 50 yuan per ton, the price of ferro molybdenum rising by about 2,000 yuan per ton, and the price of ammonium molybdate rising by about 2,000 yuan per ton.

Analysis of latest tungsten market from Chinatungsten Online

1. Latest Tungsten Prices as of May 7, 2024

Analysis of latest tungsten market from Chinatungsten Online

In April 2024, the tungsten price in China continued its upward trend, driven mainly by the widening supply gap at the tungsten ore end.