Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices continue to be weak on March 16, 2023 due in part to the weakness both in the supply and demand sides. 

At the beginning of the week, China’s domestic molybdenum prices still moved down slightly. The prices of ferromolybdenum and molybdenum concentrate dropped to about 290,000 yuan/ton and 4,400 yuan/mtu respectively, while the month-on-month decreases were 22.67% and 21.43% respectively. 

This week, China rare earth prices have shown a downward trend as a whole. The current downstream industries of rare earths, such as new energy vehicles and 3C consumer electronics, are doing so well. Tesla announced that the next generation of permanent magnet motors will abandon rare earths.

The overall situation of the domestic molybdenum market is not good in the week ended on Friday March 17, 2023, mainly manifested in the fact that the prices of most molybdenum products have been falling all the way, falling to the price before the Spring Festival, and the actual transaction speed is relatively slow.