Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the week ended on Friday, August 11, 2023 with the support of the raw material market as well as the increase in new guide prices for the first half of this month. 

At the beginning of the week, China’s domestic rare earth market as a whole showed a situation of having price but no market. With the strong support of production costs, the reduction in output of some rare earth manufacturers and the good development of the new energy industry, suppliers generally maintained firm quotations. 

At the beginning of the week, China’s domestic molybdenum market as a whole maintained a high and stable operation. 

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and tungsten carbide powder prices in the Chinese market remains stable on August 10, 2023 but raw material manufacturers have strong rised mentality despite the demand side remains sluggish. 

This week, China rare earth price fluctuated and rose, mainly due to the reduction in output of some rare earth manufacturers and the slight increase in the enthusiasm of downstream users for inquiries and purchases, but the overall transaction volume was still small. 

This week, China molybdenum price showed a pattern of first stabilizing and then rising, mainly due to the tighter spot supply in the market, and traders are reluctant to sell and have a strong bullish sentiment. It is worth mentioning that compared with last week, the prices of molybdenum concentrate and molybdenum oxide rose less this week, while the prices of molybdate, molybdenum powder and molybdenum rods rose significantly more.

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices are unchanged from the previous trading day on August 9, 2023, but raw material suppliers show signs of rising their offers again. 

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.

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. 

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.