Analysis of latest tungsten market from Chinatungsten Online

China tungsten market has generally shown a steady to slightly stronger trend in the week ended on Friday, November 22, 2024. Following the upward adjustment of new long-term contract prices by major tungsten enterprises, the raw material sector has shown an increased willingness to raise prices. 

At the start of the week, the domestic molybdenum market remained weak but stable overall. Transaction prices for molybdenum concentrate and ferromolybdenum were consolidated at approximately 3,710 CNY/ton unit and 240,000 CNY/ton, respectively. 

At the start of the week, the domestic rare earth market showed a mixed pattern with both price increases and decreases. Specifically:

Analysis of latest tungsten market from Chinatungsten Online

In the second half of November 2024, the tungsten market continued its upward price trend, with long-term contract prices from major tungsten enterprises slightly increasing. The upward trend led by tungsten ore is evident, but overall trading sentiment remains cautious, and market expectations for future trends are divided.