Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are showing a continued weak and stable trend. Sellers are actively looking to cash in on profits, while traders are wary and keen on negotiating, leading to limited market activity and a weak demand atmosphere impacting the overall tungsten market.

The domestic rare earth market continues to be lackluster, with different sentiments among light and heavy rare earth traders influenced by various uncertainties. Praseodymium and neodymium prices have shown signs of stabilizing, while mainstream medium and heavy rare earth prices continue to decline. 

The domestic molybdenum market is exhibiting a steady strengthening trend, primarily due to concentrated bidding by steel companies and strong price-supporting sentiment among molybdenum mining enterprises. Prices for molybdenum concentrate, ferromolybdenum, and molybdenum oxide have risen to around 3,700 yuan/metric ton unit, 239,000 yuan/ton, and 3,800 yuan/metric ton unit, respectively.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued to decline at the beginning of the week on July 8, 2024. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained in a downward trend in the week ended on Friday, July 5, 2024.

At the beginning of the week, domestic Chinese rare earth prices showed partial stability with some downward adjustments. This was mainly due to the ongoing oversupply in the market. Current poor rare earth market conditions, tight liquidity, and the complex global economic situation are all contributing to the insufficient consumption capacity of downstream enterprises. 

At the beginning of the week, the domestic Chinese molybdenum market maintained stable operations. The conflict between suppliers' reluctance to lower prices and buyers' cautiousness about high prices has led to a stalemate where mainstream molybdenum product prices neither rise nor fall significantly, and transaction volumes remain low. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are continuing their downward trend. 

This week, the domestic Chinese molybdenum market showed a trend of stability followed by a slight decline, with relatively few transactions. At the beginning of the week, due to the rise in international molybdenum prices and strong production cost support at the time, suppliers generally maintained firm prices.

This week, the domestic Chinese rare earth market showed a trend of rising first and then falling.