Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continued to be under pressure.

China rare earth price showed a downward trend in the week ended on Friday, July 7, 2023. Under the influence of weak supply and demand, the trading activity in the market was low and many industry players lacked confidence in the market outlook. In this situation, in order to alleviate the shortage of working capital, the quotations of suppliers were basically lowered.

China molybdenum price showed a pattern of first decline and then rise in the week ended on Friday, July 7, 2023. At the beginning of the week, due to the slowdown in the purchase speed of downstream users at the end of last month, the slight drop in international molybdenum prices, and the high level of molybdenum prices at that time, suppliers’ quotations were basically declined. 

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten bar prices in the Chinese market remain weak adjustment on July 5, 2023 because market sentiment becomes further negative with the decline in Xiamen Tungsten’s APT bid price. 

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and tungsten carbide powder prices in the Chinese market are under pressure affected by the negative sentiment of traders, especially large tungsten enterprises.

China rare earth price has shown a continuous decline on July 5, 2023. 

Molybdenum market quotation in China: the sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices remain unchanged on July 5, 2023. 

According to the "Export Control Law of the People's Republic of China", "Foreign Trade Law of the People's Republic of China" and "Customs Law of the People's Republic of China" relevant provisions, in order to safeguard national security and interests, approved by the State Council, decided to implement export control on gallium and germanium related items. 

On July 4, 2023, the Ministry of Commerce and the General Administration of Customs jointly issued a notice to implement export control on gallium and germanium related items. Among the germanium-related items whose exports are restricted are: germanium metal, zoned germanium ingots, zinc germanium phosphate, germanium epitaxial growth substrates, germanium dioxide and germanium tetrachloride.

According to China Tungsten Online, on July 4, 2023, the Ministry of Commerce and the General Administration of Customs issued an announcement on the export control of gallium and germanium related items. According to the announcement, there are 8 gallium related items, namely gallium metal (monomer), gallium nitride, gallium oxide, gallium phosphide, gallium arsenide, indium gallium arsenic, gallium selenide and gallium antimonide; 6 germanium related items, namely germanium metal, zoned germanium ingot, zinc phosphor germanium, germanium epitaxial growth substrate, germanium dioxide and germanium tetrachloride; the export control will be effective on August 1.