At the beginning of the week, China’s ferro molybdenum, molybdenum oxide and concentrate prices remain stable on the whole. Although the price reduction of many molybdenum suppliers narrowed as the price of raw materials gradually approached the cost line, it was still difficult to stabilize the price of molybdenum products, mainly due to the negative factors still exist.

China rare earth price showed a continuous overcast pattern in the week ended on Friday, August 05, 2022. The prices of praseodymium neodymium oxide and praseodymium neodymium metal dropped from 830,000 yuan/ton and 990,000 yuan/ton to 760,000 yuan/ton and 940,000 yuan/ton, respectively.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices are unchanged from the previous trading day on deadlocked supply and demand in the market. Raw material manufacturers have rised mentality, giving support to the market, but the demand side follows up cautiously, limiting the price increase and market trading. 

China molybdenum price was in the downward trend in the week ended on Friday, August 05, 2022. With the gradual increase of negative factors, the buyer's market has a greater advantage, which is mainly reflected in the lack of confidence in suppliers to stabilize prices, slow growth in orders and most industry players are bearish on the market outlook.