Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices in the Chinese market are exhibiting a weak stability trend, with the market fundamentals still locked in a stalemate. 

The domestic rare earth market has shown a pattern of rebound after excessive declines. Specifically, the price of praseodymium-neodymium oxide has increased by approximately 1,000 yuan/ton, terbium oxide by about 50 yuan/kg, and dysprosium oxide by around 20,000 yuan/ton. However, whether this price rebound will be short-lived remains to be seen, as current downstream demand still falls short of expectations.

The domestic Chinese molybdenum market overall maintained a sideways consolidation. Amid fierce price negotiations between buyers and sellers, market trading activity was moderate, with product prices fluctuating within a narrow range and differing views on the market outlook among industry participants.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued to show a weak trend, primarily due to the stalemate in market supply and demand, as well as the reduction in long-term contract prices by large tungsten enterprises, significantly affecting market sentiment. Although there is some cost support from the intention of miners to stabilize prices, the overall market is still under pressure, and transaction activity remains low.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have continued to decline in the week ended on Friday, July 19, 2024, with the price increases since mid-April almost completely reversed. Market consumption sentiment remains difficult to improve, and the trend is still in a bottoming phase, awaiting a shift in fundamental signals.

At the beginning of the week, Chinese rare earth market continued to run weakly. This was due to unrelieved weak downstream demand and ample market spot supply, prompting some suppliers to slightly lower their prices. For instance, the prices of terbium oxide and dysprosium oxide fell by about 150 RMB/kg and 30,000 RMB/ton, respectively. 

At the beginning of the week, Chinese molybdenum price exhibited a generally stable but slightly weak trend. This was mainly due to high price pressure from downstream users and poor performance in the international molybdenum market. 

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price continues to decline, with various stages of the industry chain still under considerable pressure, mainly due to weak demand. Buyers are purchasing as needed and negotiating prices accordingly, while sellers are cautiously reducing their willingness to offer discounts. 

This week, the overall domestic Chinese rare earth market is weak. 

This week, the domestic Chinese molybdenum market has remained stable overall. Key characteristics include traders having a general lack of enthusiasm for market operations, mainstream product prices staying relatively stable, and very few new orders being placed.