The Chinese molybdenum market continues to exhibit a weak downward trend, with molybdenum concentrate and ferromolybdenum prices dropping by 20 CNY/ton and approximately 1,000 CNY/ton, respectively. Under these circumstances, traders are mostly adopting a cautious wait-and-see approach, resulting in a slow increase in market orders.

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices in the Chinese market have slightly risen, with a relatively tight supply and a market-supporting sentiment spreading to the mid-to-downstream segments of the industry chain. 

Analysis of latest tungsten market from Chinatungsten Online

In July 2024, the overall tungsten market in China is in a bottom-seeking phase, with the maximum decline in tungsten ore prices reaching 8.5% during the month. Since the downward cycle began at the end of May, the total decline has reached 17.2%. Weak market demand and panic selling by traders are the main negative factors.

According to information from Chinatungsten Online, the overall performance of China's rare earth market in July 2024 was unsatisfactory. Under the intertwining of various bullish and bearish factors, the attitudes of light and heavy rare earth traders varied, and market transactions did not meet expectations.