In the first week after the Chinese New Year, Chinese rare earth market showed strong overall performance, with many mainstream products continuing their pre-holiday upward trend. This was primarily driven by increased inquiries from downstream users, strong production cost support, slow growth in spot supply, and positive market expectations.

In the first week after the Chinese New Year, the domestic molybdenum market remained generally stable but showed a slight downward trend. 

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices remain stable, with the latest quotes for tungsten raw materials from institutions and large tungsten enterprises being announced, either steady or slightly adjusted upwards. 

The domestic rare earth market is experiencing a situation where prices are rising but actual transactions remain limited. Several factors are influencing this trend, including the slow pace of production capacity release by rare earth manufacturers, low willingness of suppliers to sell, and an increase in downstream inquiries. 

The domestic molybdenum market remains stable, with a balanced supply-demand relationship and limited policy impact. As a result, traders are adopting a cautious wait-and-see approach, leading to low market activity and slow order growth.

Analysis of latest tungsten market from Chinatungsten Online

On the first trading day after the Chinese New Year, tungsten prices remained stable. 

According to Reuters, India's Finance Minister Nirmala Sitharaman stated during her annual budget speech on February 1st that India has scrapped customs duties on waste and scrap from a dozen critical minerals, including those of antimony, cobalt, tungsten, copper, lead, zinc, as well as waste and scrap of lithium-ion battery.

MOFCOM Spokesperson Answers Questions from Reporters on Export Controls Imposed on Tungsten and Related Items

Q: On February 4th, the Ministry of Commerce (MOFCOM) and the General Administration of Customs jointly issued an announcement on export controls for tungsten and related items. What considerations did China take into account when formulating this export control policy?

Analysis of latest tungsten market from Chinatungsten Online

The tungsten market in January 2025 showed steady trend, mainly due to the approaching Chinese New Year, with more companies planning maintenance and holidays. 

The domestic rare earth market exhibited a generally stable performance.