Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are showing a continued weak and stable trend. Sellers are actively looking to cash in on profits, while traders are wary and keen on negotiating, leading to limited market activity and a weak demand atmosphere impacting the overall tungsten market.

The domestic molybdenum market is exhibiting a steady strengthening trend, primarily due to concentrated bidding by steel companies and strong price-supporting sentiment among molybdenum mining enterprises. Prices for molybdenum concentrate, ferromolybdenum, and molybdenum oxide have risen to around 3,700 yuan/metric ton unit, 239,000 yuan/ton, and 3,800 yuan/metric ton unit, respectively.

The domestic rare earth market continues to be lackluster, with different sentiments among light and heavy rare earth traders influenced by various uncertainties. Praseodymium and neodymium prices have shown signs of stabilizing, while mainstream medium and heavy rare earth prices continue to decline. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued to decline at the beginning of the week on July 8, 2024.