Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and ammonium paratungstate (APT) prices continue to stabilize on December 5, 2023, with support from the mining end, and the market exploration sentiment is still present. 

The overall situation in the domestic Chinese rare earth market is lukewarm. Factors such as limited growth in downstream demand, strong support from production costs, and a relatively low supply of some rare earth raw materials have led suppliers to maintain stable pricing, but transactions are scarce.

There has been another occurrence of a surge followed by a retreat in domestic Chinese molybdenum prices on December 6, 2023. Both molybdenum concentrates and molybdenum oxide have experienced a decrease of approximately 50 yuan per ton Mo, while ferro molybdenum has seen a reduction of around 3,000 yuan per ton. In this scenario, market transactions are generally moderate.

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, Chinese tungsten prices stabilized temporarily, with attention on the upcoming release of average tungsten forecast prices from Ganzhou Tungsten Association and long-term contract prices from major tungsten enterprises.

Analysis of latest tungsten market from Chinatungsten Online

The overall Chinese tungsten price has shown a situation of probing higher and then stabilizing in the week ended on Friday, December 1, 2023, with the key factors in the market being the actual performance of the supply and demand fundamentals and market confidence. 

At the beginning of the week, the overall Chinese rare earth market exhibited a pattern of fluctuations, with limited transaction volume in the market due to downstream manufacturing companies primarily consuming existing inventory and a prevalent sentiment of preferring price increases over decreases. 

At the beginning of the week, the overall focus of Chinese molybdenum prices still saw a slight upward shift, with quotations for molybdenum concentrate and ferro molybdenum breaking through the thresholds of 3,100 yuan/ton Mo and 210,000 yuan/ton, respectively. 

Analysis of latest tungsten market from Chinatungsten Online

The overall trend of the tungsten market in China in November 2023 shows a small "hook" pattern, with spot trading continuing in deadlocked situation.

Chinese rare earth prices this week showed similarities to the previous week, with praseodymium-neodymium (PrNd) prices fluctuating downward, while dysprosium-terbium (DyTb) prices remained stable with a slight upward trend.

This week, Chinese molybdenum price trend shows a distinct contrast with the previous week, exhibiting a volatile upward movement.