The overall situation in the domestic rare earth market continues to be relatively weak. Despite the support from gradually strengthening production cost support, the good development of downstream industries such as wind power generation, and the continuous emergence of favorable news, many suppliers have a strong inclination to hold prices. 

The domestic Chinese molybdenum market is overall maintaining stable operations, with intense price negotiations between buyers and sellers due to a relatively balanced supply-demand relationship. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten prices experienced a slight pullback, with the overall long-term bullish sentiment in the market largely unchanged. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable in the week ended on Friday, May 24, 2024 as they temporarily paused after reaching historic highs. 

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.

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. 

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.

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. 

Chinese molybdenum market presented a pattern of first rising sharply and then stabilizing in the week ended on Friday, May 24, 2024. At the beginning of the week, due to the slight decrease in molybdenum product prices last week, downstream users showed generally high enthusiasm for inquiry and procurement. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price currently is in a phase of stabilizing consolidation after experiencing rapid and substantial increases.