Prices of molybdenum oxide, ferromolybdenum and molybdenum concentrate dropped slightly in the midweek in the Chinese market. Recently, steel mills have been slowed down in tenders, further weakening market confidence. 

Rare earth market quotation in China: domestic rare earth price continues to be stable in the midweek. On the one hand, spot resources become tight due to environmental protection and decreased imports from foreign countries; on the other hand, trading volumes are thin and enterprises face capital shortage. Therefore, insiders mainly wait and see at present. 

Analysis of latest tungsten market from ChinaTungsten Online

Xiamen Tungsten released its offer level for ammonium metatungstate (APT) at $271.2/mtu for the first half of December, down $3.5/mtu compared with last month. The further decline in large enterprises’ offer levels it in line with current downward trend in the market. 

The latest prices of molybdenum power, molybdenum oxide and molybdenum bar are unchanged from the previous trading day due to continued weak demand and low buying interests. Although the relationship between China and America easing boosts market confidence slightly, deadlocked supply and demand presses prices down. In the short term, businesses will wait for the performance in steel biddings.