Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices showed a sideways trend on Monday, supported by strong supply from the mining side. However, weak demand feedback from the alloy sector created divergent views on the future market direction. Market participants adopted a cautious approach, with both buyers and sellers holding back, resulting in generally modest transaction activity.

The overall domestic rare earth market showed a weak trend at the start of the week. This was primarily due to continued low purchasing enthusiasm from downstream users and abundant spot supply for some products. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price has slightly decreased in the week ended on Friday, December 6, 2024, mainly due to weak demand and a market atmosphere focused on profit-taking. However, the supply side continues to provide firm support for the market, with limited room for price reductions and fewer low-priced resources available. 

At the beginning of the week, the domestic Chinese molybdenum market exhibited a weak but stable trend. This was influenced by suboptimal performance in steel procurement volumes and pricing, a slight uptick in international molybdenum prices, and strong production cost support. Suppliers adjusted their quotes within a reasonable range.