Analysis of latest tungsten market from Chinatungsten Online

Amidst tightened tungsten supply chain and increased environmental pressure on smelters, China tungsten prices continue to rise strongly in the first week after May Day.

Chinese rare earth prices remain relatively stable. With the supply and demand balance relatively stable and limited boost from positive news, both buyers and sellers are primarily engaging in essential transactions, resulting in few new orders. Today, the prices of praseodymium oxide, terbium oxide, and erbium oxide are holding steady at around 407,000 yuan per ton, 6,600 yuan per kilogram, and 315,000 yuan per ton, respectively.

Analysis of latest tungsten market from Chinatungsten Online

As summarized by Chinatungsten Online on Monday, the macroeconomic fluctuations and outlook for tungsten product prices during the May Day period are consistent, and similar to the increase in high-speed rail ticket prices, there has been a significant surge! 

The overall situation of the Chinese molybdenum market is relatively good. Influenced by various factors, the intense price bargaining between buyers and sellers is prominent. Suppliers are keen on holding prices, while buyers have a lower willingness to accept high prices, resulting in moderate market turnover.