Analysis of latest tungsten market from Chinatungsten Online

In August 2024, China's tungsten market exhibited an overall upward trend, marked by ongoing supply-demand tensions and limited spot trading volumes. Over the month, tungsten ore prices increased by 6.82%, although they remain 10.19% below the historic peak observed in May.

At the beginning of the week, the domestic molybdenum market continued to operate on a strong note. Prices for molybdenum concentrate, ferromolybdenum, and molybdenum oxide each increased by approximately 10 CNY/metric ton unit, 1,000 CNY/ton, and 10 CNY/metric ton unit, respectively.

At the beginning of the week, the domestic rare earth market showed mixed trends. Prices for light rare earth products generally increased, while prices for mainstream medium and heavy rare earth products continued to decline. 

Analysis of latest tungsten market from Chinatungsten Online

The Chinese tungsten market remains stable, with prices holding firm. Recent market trends have been primarily driven by a strong sentiment among suppliers to hold back sales and push prices up.