Analysis of latest tungsten market from Chinatungsten Online

In February 2024, the overall trend of China's tungsten market showed a stable and upward trend. The main factors supporting the market were the reluctance of tungsten mines to sell and support the market. 

At the beginning of the week, Chinese rare earth price showed a downtrend trend, mainly due to factors such as slow purchasing pace of downstream users, strong resilience of manufacturers' production capacity, ample market spot supply, the month-on-month decline in the listing price of Northern Rare Earths, and news of Apple abandoning its car-making plans. 

At the beginning of the week, Chinese molybdenum market presented a stable but slightly stronger pattern, primarily attributed to the optimistic sentiment of mining companies towards holding sales. 

Analysis of latest tungsten market from Chinatungsten Online

The Chinese tungsten market maintains a firm and steady trend, mainly supported by the firm attitude of mine-side sellers, while traders and downstream enterprises maintain a firm stance on offers in line with cost, but actual consumption momentum lags slightly behind, with industry players awaiting updates on the news front after the change of month.

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten price remains at a high level with a stalemate in the market, where there are divergences in trading psychology. 

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten prices remain stagnant with a further increase in tungsten product resources after the Lantern Festival. 

Chinese rare earth prices are fluctuating within a narrow range, with the atmosphere of negotiations between buyers and sellers somewhat stagnant due to the mutual influence of positive and negative factors. Consequently, market trading activity remains low, and transaction speeds remain slow.

Chinese molybdenum market is overall maintaining a stable trend, with weak supply and demand dynamics leading to a subdued trading atmosphere and a reduction in new orders. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, tungsten prices stabilized temporarily as the market adopted a wait-and-see approach. 

Analysis of latest tungsten market from Chinatungsten Online

In the first trading week of the Year of the Dragon, the tungsten market is in the process of resuming work and production. There is a prevailing sentiment of chasing higher prices in the tungsten raw material sector, supporting overall firmness in tungsten product prices.