The Asia-Pacific region accounted for the largest market revenue share of 46.56% in 2017. The growth of tungsten carbide button market in the region can be attributed to a well-established industrial base. This region is growing fast to become the epicenter of tungsten carbide materials, making the region an inevitable player in the supply as well as on the consumer side. With governmental organizations putting in relentless efforts to make a mark with tungsten carbide, new companies along with well-established names are setting their centers in this region due to favorable policies. In 2017, China accounted for a market revenue share of 27.64% globally.

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices continued to maintain stability on heavy wait-and-see atmosphere and stabilized offer levels of large tungsten enterprises. Miners are reluctant to sell their products at low prices as more and more mines stop work to undergo repair. Some downstream enterprises have finished their plans of replenishments, so market trading is limited at present. 

Rare earth market quotation in China: domestic rare earth price continues to maintain stability because of weak demand and low buying appetite of downstream. The supply and demand of praseodymium and neodymium related products are hard to balance and thus some traders decline their offer levels. 

Molybdenum prices in China rebound slightly, boosted by the increase in prices and quantity of steel tenders and rised mentality of miners that start to stop production. After a long period of low-price consumption, raw materials become tight and manufacturers intend to increase profits. The rise in ferro molybdenum prices also drive molybdenum concentrate price to rebound. For downstream chemical and product market, the need for raw material is weak, but with good sentiment. 

Analysis of latest tungsten market from Chinatungsten Online

Zhangyuan Tungsten released its new offer levels for the second half of January: black tungsten concentrate (WO3≥65%) was quoted at $14,615.4/t; scheelite concentrate (WO3≥65%) was quoted at $14,384.6/t; ammonium paratungstate (APT) was quoted at $260.8/mtu. 

Rare earth market quotation in China: the latest prices of europium oxide, terbium oxide and lanthanum oxide are unchanged from the previous trading day due to heavy wait-and-see atmosphere with the approaching of the Spring Festival and low trading activity. 

Chinese molybdenum prices started to rebound on Wednesday January 23 because the profit margin of ferromolybdenum plants was severely squeezed by steel mills. Besides, manufacturers have strong rised mentality and raised their offer levels. 

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Analysis of latest tungsten market from Chinatungsten Online

Opening this week, tungsten prices in China continued to maintain stability due to heavy wait-and-see atmosphere and low trading activity of market participants with the approaching of Spring Festival.