Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues its upward trend, with the mainstream expectation before the May Day holiday being a robust market led by the tight supply and high demand for tungsten raw materials. Amidst severe pressure from backwardation, smelters are experiencing delayed deliveries due to reluctance to accept high prices, resulting in low trading volume in the market.

Analysis of latest tungsten market from Chinatungsten Online

Under the atmosphere of speculative price increases in the supply side, tungsten prices continue to rise steadily. 

Chinese rare earth prices are fluctuating within a narrow range overall. Under the influence of various uncertainties, there is intense price bargaining between supply and demand sides. Suppliers show weak willingness to make concessions, while purchasers have a lower inclination to accept high-priced goods. This has led to a subdued trading atmosphere in the market and a slow growth in orders.

Chinese molybdenum price is showing a strong upward trend, primarily characterized by significant price increases in many molybdenum products, active inquiries and purchases from downstream customers, and suppliers holding onto their stocks in anticipation of higher prices. 

Analysis of latest tungsten market from Chinatungsten Online

According to statistics from Chinatungsten Online, the current round of tungsten price increases began in mid-November 2023. Since then, the price of 65% black tungsten concentrate has increased by 13.45%, ammonium paratungstate (APT) by 11.24%, tungsten powder by 10.45%, tungsten carbide powder by 11.03%, 70% ferro tungsten by 10.34%, and tungsten bars by 5.88%.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued to rise in the week ended on Friday, April 19, 2024, with market sentiment factors relatively prominent.

At the beginning of the week, Chinese rare earth market was moderate, mainly characterized by fluctuations in prices of mainstream products within a reasonable range, strong confidence among suppliers to stabilize prices, and persistent downward pressure from downstream users. 

At the beginning of the week, Chinese molybdenum market showed positive momentum, mainly reflected in the continued increase in prices of various molybdenum products, relatively active inquiries and purchases from downstream users, and a widespread strong willingness among suppliers to withhold sales and maintain prices. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices maintain a high and stable trend, with the market gradually becoming cautious about chasing higher prices and returning to the fundamentals of supply and demand. The positive momentum in China's economic data in the first quarter provides further impetus to the relatively active metal market in recent times.

This week, Chinese rare earth prices showed a pattern of fluctuations, with prices rising and falling.