Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices keep stable earlier in this week, but are expected to decline as insiders are negative about the guide prices from institutions and large tungsten enterprises. Companies remain low buying interest after profit margin reduced. At present, the whole market is caught in heavy wait-and-see atmosphere. 

The latest price of ammonium molybdate, ammonium heptamolvbdate and molybdenum powder climbs slightly in Chinese molybdenum market. The supply in raw material market remains tight under environmental checks while market demand follows up slowly. Operating rate of factories is limited in the off season and downstream companies’ profits reduce due to rising raw material prices.

Rare earth price maintains stability in Chinese market on continuous deadlocked supply and demand and unclear policy news. Manufacturers have strong willing to sale products while downstream demand maintains weakness. On the whole, the market trading is thin, replying on rigid demand. 

On the evening of the 3rd, Customs Tariff Commission of the State Council of People’s the Republic of China issued a notice to decide to impose tariffs on some imported goods (second batch) originating in the United States. On July 11, 2018, the US government issued 10% increase on imports of about US$200 billion from China. In response to the above measures by the US, China was forced to take countermeasures. According to the "PRC Foreign Trade Law", "PRC Import and Export Tariff Regulations" and other laws and regulations of international law, the State Council Customs Tariff Commission decided to impose tariffs on 5,207 tax items imported from the United States. The measure involves an import trade volume of approximately US$60 billion from the United States.