Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued to show a weak trend, primarily due to the stalemate in market supply and demand, as well as the reduction in long-term contract prices by large tungsten enterprises, significantly affecting market sentiment. Although there is some cost support from the intention of miners to stabilize prices, the overall market is still under pressure, and transaction activity remains low.

At the beginning of the week, Chinese rare earth market continued to run weakly. This was due to unrelieved weak downstream demand and ample market spot supply, prompting some suppliers to slightly lower their prices. For instance, the prices of terbium oxide and dysprosium oxide fell by about 150 RMB/kg and 30,000 RMB/ton, respectively. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have continued to decline in the week ended on Friday, July 19, 2024, with the price increases since mid-April almost completely reversed. Market consumption sentiment remains difficult to improve, and the trend is still in a bottoming phase, awaiting a shift in fundamental signals.

At the beginning of the week, Chinese molybdenum price exhibited a generally stable but slightly weak trend. This was mainly due to high price pressure from downstream users and poor performance in the international molybdenum market.