Analysis of latest tungsten market from Chinatungsten Online

The overall Chinese tungsten price has shown a situation of probing higher and then stabilizing in the week ended on Friday, December 1, 2023, with the key factors in the market being the actual performance of the supply and demand fundamentals and market confidence. 

At the beginning of the week, the overall Chinese rare earth market exhibited a pattern of fluctuations, with limited transaction volume in the market due to downstream manufacturing companies primarily consuming existing inventory and a prevalent sentiment of preferring price increases over decreases. 

At the beginning of the week, the overall focus of Chinese molybdenum prices still saw a slight upward shift, with quotations for molybdenum concentrate and ferro molybdenum breaking through the thresholds of 3,100 yuan/ton Mo and 210,000 yuan/ton, respectively. 

Analysis of latest tungsten market from Chinatungsten Online

The overall trend of the tungsten market in China in November 2023 shows a small "hook" pattern, with spot trading continuing in deadlocked situation.

Chinese rare earth prices this week showed similarities to the previous week, with praseodymium-neodymium (PrNd) prices fluctuating downward, while dysprosium-terbium (DyTb) prices remained stable with a slight upward trend.

This week, Chinese molybdenum price trend shows a distinct contrast with the previous week, exhibiting a volatile upward movement. 

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices in the Chinese market continue to stabilize on November 29, 2023, and there is little change in the market fundamentals. 

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten price seems in the upward trend with the market sentiment buoyed by the influence from the mining side. However, buyers remain relatively cautious as there is not much improvement in the demand side. 

The overall rare earth market in China is relatively weak. Apart from the widespread decline in mainstream light and heavy rare earth prices, this is also reflected in the lack of enthusiasm among traders and the scarcity of new orders. In this situation, some industry insiders predict that the market is unlikely to rebound in the short term.

The overall Chinese domestic molybdenum price is showing a pattern of bottoming out and rebounding on November 29, 2023.