China's tungsten industry holds a dominant position globally, with a tungsten output of approximately 65,000 tons in 2024, accounting for 85% of the global total (China Tungsten Industry Association, 2024). However, the industry faces shortcomings in high-end products and technology (high-end cutting tools account for only 20% of the market, China Machine Tool & Tool Builders' Association, 2024) and a low recycling rate (about 10%). Although there has been no explicit significant tariff increase on China’s critical minerals yet, starting in 2025, many Chinese industries will face challenges from the U.S. escalating tariff war (with U.S. tariffs on China reaching up to 245%), prompting a need to reassess strategic positioning.

Analysis of latest tungsten market from Chinatungsten Online

This week, the overall tungsten price showed a stable upward trend, mainly manifested in the tight supply and high price of tungsten ore, and the passive price increase of smelters and alloy enterprises due to cost-driven. 

Molybdenum market update on April 21, 2025

At the start of the week, the domestic molybdenum market in China showed slight improvement, primarily reflected in continued modest price increases for mainstream products, heightened enthusiasm among traders, and an increase in market transaction volumes.

Molybdenum market update on April 18, 2025

The domestic molybdenum market in China exhibits a rebound from an oversold state, with prices of molybdenum concentrate and molybdenum oxide rising by approximately 10 yuan/ton-degree, and ferromolybdenum prices recovering to the 210,000 yuan/ton threshold.