In the first week back after the New Year in 2024, the overall performance of the Chinese rare earth market is relatively poor, with a general decline in the prices of mainstream light and heavy rare earth raw materials and limited actual transaction volume. 

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price is overall maintaining a stable situation, with market consumption sentiment yet to be established after the New Year. On the raw material side, due to a supportive stance and cost considerations, suppliers are maintaining steady quotations, observing the actual stocking situation before the Spring Festival.

In the first week after the New Year's Day in 2024, the Chinese molybdenum market performed well. Besides a significant increase in the prices of mainstream molybdenum products, the market trading atmosphere was relatively active. 

The overall Chinese rare earth prices continue to shift downward on January 4, 2024. Notably, the prices of neodymium praseodymium oxide have dropped to around 435,000 yuan/ton, terbium oxide to around 7,200 yuan/kg, and dysprosium oxide to around 2,440,000 yuan/ton.