Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices continued the downward trend in the week ended on Friday June 28, 2019 owing on weak market confidence, low buying appetite of terminal market and buyers demanding for lower product prices. 

Opening this week, China molybdenum prices remained unchanged from last week under stabilized offer levels in major production areas in June and steel tenders for ferro molybdenum. Recently, many markets besides China have taken a break for summer while the market in China also gradually enters off season. So traders remain low trading activity. The whole market is now caught in wait-and-see atmosphere, with rare transactions concluded. 

Rare earth market quotation in China: domestic rare earth prices remained weak adjustment in early July as the G20 summit on the weekend and the Sino-US economic and trade consultations have an obvious influence on market sentiment. The rare earth prices rose sharply in the previous period has gradually declined, considering transactions hardly following up the high prices. At present, oversupply still weights on rare earth prices and most market participants take a watchful stance. 

Tungsten concentrate price and the tungsten mine output trend are basically keep the same for more than 100 years in the past, and gradually rise in turbulence, it is being closely related to the speed of global economic development. Its price has skyrocketed due to international wars and crises, while in the 1980s, low-cost Chinese tungsten concentrates gradually occupied the global market, the oversupply led to a long-term downturn in its price.