Analysis of latest tungsten market from Chinatungsten Online

According to the statistics from Chinatungsten Online, as of May 16, 2024, the price of 65% black tungsten concentrate has reached $22,142.9/ton. This current upward cycle has been ongoing for six months (with the lowest point of the previous cycle being $17,000.0/ton on November 15, 2023), resulting in a cumulative increase of 30%. Specifically, compared to the beginning of 2024, the price has risen by 26%. 

Chinese rare earth price continues to maintain a relatively weak operation overall, mainly attributed to the lower-than-expected consumption capacity of downstream users and an increase in the willingness of some suppliers to sell at lower prices. 

Chinese molybdenum price is generally showing a pattern of stability with a slight weakness in the week ended on Friday, May 17, 2024. As the favorable factors gradually diminish, the consumption market is slowly transitioning from a seller's market to a buyer's market. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have been maintaining a strong upward trend, with market sentiment remaining optimistic. The supply of tungsten remains tight and prices are high, especially as environmental inspections by central authorities in major production areas are adding pressure to the supply chain. 

Analysis of latest tungsten market from Chinatungsten Online

In mid-May, the tungsten market is entering a relatively sensitive phase, with mixed opinions on the future. Those holding inventory are generally optimistic, but any minor fluctuation could trigger a new wave of price volatility, reminiscent of the butterfly effect in the Amazon rainforest.

The overall Chinese rare earth market is relatively average on May 15, 2024, with varying price trends for major light and heavy rare earth products influenced by a mix of factors.

Chinese molybdenum market remains stable on May 15, 2024. Influenced by strong reluctance to sell at low prices from molybdenum mining companies, good downstream demand, and the pressure from steel companies to lower prices, market trading activity is moderate. Consequently, transaction prices for products are neither rising nor falling. 

Analysis of latest tungsten market from Chinatungsten Online

As pointed out by Chintungsten Online upon returning from the long holiday of May Day, tungsten product prices have surged by 20% by the end of last week ended on Saturday, May 11, 2024. 

Analysis of latest tungsten market from Chinatungsten Online

1.All tungsten products rose by more than 20%, and hard alloys are difficult to describe in a few words

Chinese rare earth prices are currently exhibiting a sideways consolidation trend. Although market demand has fallen short of expectations due to high current prices, existing raw material inventories at downstream production enterprises, and tight liquidity, suppliers have generally maintained firm quotations.