Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable on the whole on August 9, 2023 affected by the decline in new average tungsten forecast prices for August from Ganzhou Tungsten Association (GTA) but the rise in long-term contract prices from listed tungsten enterprisers.

Molybdenum market quotation in China: ferro molybdenum, sodium molybdate and ammonium molybdate prices continue to increase on August 9, 2023 mainly due to the tightening spot supply of molybdenum raw materials, downstream users basically maintaining rigid demand purchases, and the continuous rise in international molybdenum prices. Under this situation, suppliers generally have a good attitude and have expectations for the market outlook.

The overall situation of the Chinese rare earth market has improved slightly on August 9, 2023, mainly reflected in the price increases of mainstream products to varying degrees, such as the prices of praseodymium oxide, gadolinium oxide and dysprosium oxide have increased by 10,000 yuan/ton, 3,000 yuan/ton and 30,000 yuan/ton respectively. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price remains stable as the upstream and downstream in the industry chain continue to be in a stalemate and market participants mainly take a watchful stance, waiting for a new round of price guidance from listed tungsten enterprises.