China tungsten market remains stable on Feb. 22, 2023 because the supply-demand relationship in a weak balance. The buying and selling atmosphere in the market is slightly calm, which is mainly reflected in the small number of new orders and the difficult rise and fall of molybdenum prices.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price showed a slight pullback and adjustment trend in the week ended on Friday February 17, 2023 mainly due to the impact of the periodic changes in market supply and demand and emotional adjustments of insiders. The mentality of traders remained rational. Although there were some profit-takings, the room for interest concessions was limited.

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continues its stalemate when market participants are waiting for the next move in the market. Meanwhile, the limited decline in new guide prices from listed tungsten companies also supports market confidence to some extent. 

At the beginning of the week, China’s domestic rare earth prices were still falling. Under the contradiction of limited downstream demand and large stocks of rare earth raw materials, most suppliers showed little confidence in stabilizing prices.