Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable on the whole on August 9, 2023 affected by the decline in new average tungsten forecast prices for August from Ganzhou Tungsten Association (GTA) but the rise in long-term contract prices from listed tungsten enterprisers.

The overall situation of the Chinese rare earth market has improved slightly on August 9, 2023, mainly reflected in the price increases of mainstream products to varying degrees, such as the prices of praseodymium oxide, gadolinium oxide and dysprosium oxide have increased by 10,000 yuan/ton, 3,000 yuan/ton and 30,000 yuan/ton respectively. 

Molybdenum market quotation in China: ferro molybdenum, sodium molybdate and ammonium molybdate prices continue to increase on August 9, 2023 mainly due to the tightening spot supply of molybdenum raw materials, downstream users basically maintaining rigid demand purchases, and the continuous rise in international molybdenum prices. Under this situation, suppliers generally have a good attitude and have expectations for the market outlook.

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price remains stable as the upstream and downstream in the industry chain continue to be in a stalemate and market participants mainly take a watchful stance, waiting for a new round of price guidance from listed tungsten enterprises. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continued to remain stable at the beginning of August 2023 when the market mentality improved slightly as time went by. However, the positive information on the actual fundamentals is still limited, and there are still many differences in the trading in the market.

Rare earth market on August 7, 2023: The overall Chinese rare earth market was still weak at the beginning of the week, mainly due to the poor buying interest of downstream users and relatively sufficient spot supply in the market. 

Molybdenum market market on August 7, 2023: At the beginning of the week, the overall Chinese molybdenum market maintained a relatively strong operation, mainly due to the support of the fair steel bidding price, the small market spot supply and the warming up of the international molybdenum market. 

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium metatungstate (APT) and tungsten powder prices continue to keep stable on August 3, 2023 when the market is quiet. 

China rare earth price showed mixed ups and downs in the week ended on Friday, August 4, 2023. Under the influence of many uncertain factors, the price of praseodymium and neodymium moved up slightly, while the price of dysprosium, terbium and gadolinium was stable and weakened, and the market turnover was lower than expected.

China molybdenum price increased sharply in the week ended on Friday, August 4, 2023. Under the situation of tight supply of molybdenum raw materials and good downstream demand, traders’ speculation has generally warmed up, and the trading activity on the market has increased.