At the beginning of the week, the overall domestic rare earth prices continued the downward trend from last week, mainly due to the low enthusiasm of downstream users for inquiries and purchases, as well as the relatively high inventory levels of some suppliers. Additionally, recent fluctuations in rare earth raw material prices have led to increased panic among some suppliers and a higher awareness of price reductions.

Analysis of latest tungsten market from Chinatungsten Online

The overall trend of tungsten prices is stabilizing, with tight supply and strong demand at the tungsten ore end still providing strong support to the overall industry chain.

At the beginning of the week, the overall Chinese molybdenum market continued the stable trend observed over the weekend of the previous week. With strong reluctance from suppliers to sell at lower prices and downstream users maintaining basic demand procurement, most molybdenum product prices remained relatively stable, with generally moderate transaction speeds. 

Chinese rare earth prices showed a trend of fluctuating downward in the week ended on Friday, May 24, 2024, mainly attributed to the continued weak demand from magnet manufacturers and the strong panic-selling sentiment among some suppliers.