Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable in the week ended on Friday, May 24, 2024 as they temporarily paused after reaching historic highs. 

At the beginning of the week, the overall domestic rare earth prices continued the downward trend from last week, mainly due to the low enthusiasm of downstream users for inquiries and purchases, as well as the relatively high inventory levels of some suppliers. Additionally, recent fluctuations in rare earth raw material prices have led to increased panic among some suppliers and a higher awareness of price reductions.

At the beginning of the week, the overall Chinese molybdenum market continued the stable trend observed over the weekend of the previous week. With strong reluctance from suppliers to sell at lower prices and downstream users maintaining basic demand procurement, most molybdenum product prices remained relatively stable, with generally moderate transaction speeds. 

Analysis of latest tungsten market from Chinatungsten Online

The overall trend of tungsten prices is stabilizing, with tight supply and strong demand at the tungsten ore end still providing strong support to the overall industry chain.

Chinese rare earth prices showed a trend of fluctuating downward in the week ended on Friday, May 24, 2024, mainly attributed to the continued weak demand from magnet manufacturers and the strong panic-selling sentiment among some suppliers. 

Chinese molybdenum market presented a pattern of first rising sharply and then stabilizing in the week ended on Friday, May 24, 2024. At the beginning of the week, due to the slight decrease in molybdenum product prices last week, downstream users showed generally high enthusiasm for inquiry and procurement. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price currently is in a phase of stabilizing consolidation after experiencing rapid and substantial increases. 

Analysis of latest tungsten market from Chinatungsten Online

Tungsten Prices Range-bound, Market Players Engage in Intense Bargaining

Rare earth market quotation in China: domestic rare earth price

Chinese mainstream light and heavy rare earth product prices have significantly decreased, with the price of neodymium oxide dropping by approximately 9,000 yuan per ton, praseodymium-neodymium metal by approximately 8,000 yuan per ton, and dysprosium iron alloy by approximately 20,000 yuan per ton.

Chinese molybdenum prices continue to show a clear upward trend, with the price of molybdenum concentrate increasing by approximately 110 yuan per mtu, molybdenum iron by approximately 5,000 yuan per ton, and molybdenum powder by approximately 5 yuan per kilogram. In this situation, industry players are particularly concerned about the receiving and bidding conditions of downstream users such as steel companies.