Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices show a stable upward movement in the week ended on Friday, December 15, 2023, mainly driven by the reluctance of sellers in the tungsten primary market to sell at lower prices. 

At the beginning of the week, the overall Chinese molybdenum market maintained stable operations. With steel companies gradually entering the bidding for ferro molybdenum and the international molybdenum price facing resistance in its upward movement, suppliers are mainly adopting a cautious wait-and-see approach, leading to generally moderate transactions. 

At the beginning of the week, Chinese rare earth market showed signs of stabilization after a period of decline. This is primarily attributed to the prolonged and significant decline in rare earth prices, leading many rare earth products to approach the cost line. 

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price has remained stable recently with slight upward movements. The main source of confidence supporting the market is the expectation for an increase in raw material prices.