At the beginning of the week, Chinese molybdenum market maintained stable and robust operations. With relatively low inventory levels in the spot market and downstream users mainly engaged in essential procurement, suppliers exhibited slightly restrained confidence in raising prices, while the willingness to lower prices was also limited. 

This week, Chinese rare earth prices exhibited a pattern of significant rise followed by narrow-range fluctuations. This trend can be attributed to the active inquiry and procurement by downstream users at the beginning of the week. 

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and tungsten carbide powder prices remain stable on August 24, 2023 with a continued stalemate in the market. Both raw material market and downstream demand remain weak, resulting in overall tepid market transactions.

This week, Chinese domestic molybdenum market demonstrated a very positive performance. Supported by factors such as increased activity in the steel tender market, a rebound in international molybdenum prices, and persistent challenges in increasing market spot supply, molybdenum raw material suppliers have regained confidence in raising prices.