Analysis of latest tungsten market from Chinatungsten Online

A new round of guidance prices by GTA and large tungsten enterprises has shifted downward, reflecting the current relatively sluggish situation in the tungsten market. 

Chinese rare earth prices are currently experiencing narrow-range fluctuations on November 8, 2023. This is mainly attributed to a reduction in the enthusiasm of downstream users for consumption after the "Golden September and Silver October" period ended. 

Chinese molybdenum market is relatively favorable on November 8, 2023. This is primarily due to the continuous rise in international molybdenum prices, the increase in steel mill bidding prices, and the strong willingness of molybdenum mining companies to withhold sales.

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continued to stabilize, with no significant updates on market news. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain stable with a cautious and stabilizing trend in the week ended on Friday, November 3, 2023, as transactions revolve around immediate needs, and the outlook for new orders from businesses is not optimistic. 

At the beginning of the week, Chinese rare earth market was relatively weak, mainly reflected in the slight decline in the prices of many mainstream heavy and medium rare earth raw materials and the limited number of new orders. 

At the beginning of the week, Chinese molybdenum market was relatively positive, characterized by a certain degree of price increases in mainstream molybdenum products and increased actual transaction volumes. 

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten market remains relatively stable with a cautious trading atmosphere and no significant recovery in market confidence at the beginning of November 2023. 

This week, the overall focus of Chinese rare earth prices has not shown significant changes, and actual transaction volumes remain relatively low. This is primarily attributed to downstream users maintaining their just-in-time procurement. Suppliers, to avoid the risk of cost inversion, generally have a lower willingness to reduce prices for sales.

China’s domestic molybdenum market demonstrated a fluctuating trend in the week ended on Friday, November 3, 2023.