On July 10, 2024, a new antidumping (AD) and countervailing duty (CVD) petition was filed against imports of Tungsten Shot from China. Tungsten shot is used to produce shotgun shot.

At the start of the week, Chinese rare earth prices showed partial stability with some minor declines. The price of praseodymium-neodymium oxide decreased by approximately 3,000 RMB/ton, terbium oxide by around 50 RMB/kg, and dysprosium-iron alloy by about 20,000 RMB/ton. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain stagnant in the week ended on Friday, July 12, 2024, with no significant updates in market fundamentals. Weak demand continues to influence market sentiment, while supply-side attitudes towards selling and cashing out remain divided, suppressing overall transaction focus.

At the beginning of the week, the domestic Chinese molybdenum market maintained stable operations. This was primarily due to increased cautious sentiment among downstream users and generally average performance in the international molybdenum market.