Chinese rare earth market remains lackluster in the week ended on Friday, February 2, 2024, primarily attributed to the steadfast pricing awareness of suppliers and the low willingness of downstream users to accept goods.

Chinese molybdenum prices continue to maintain overall stability, with a somewhat stagnant atmosphere in negotiations between supply and demand. 

Analysis of latest tungsten market from Chinatungsten Online

In January 2024, the Chinese tungsten market achieved a good start, mainly due to suppliers on the tungsten raw material side showing a willingness to support and explore price increases before the Chinese New Year, leading to a relatively tight market resource supply around the festival. 

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten price is showing a stable and robust trend, with a predominant willingness to support and explore price increases on the raw material side. 

Chinese rare earth market continues to maintain a sideways trend. With weak supply and demand, the consensus between buyers and sellers is low. As a result, market activity is not high, and product prices are difficult to rise or fall.

The Chinese molybdenum market is generally stable, with product prices mainly influenced by supply and demand dynamics. With suppliers not in a hurry to sell and buyers maintaining basic demand consumption, the market activity is moderate, and molybdenum product prices have shown no significant changes.

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price stabilized, and the market became increasingly festive. The overall market showed resilience against declines, but the actual trading atmosphere was subdued. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price has shown an overall stable trend in the week ended on Friday, January 26, 2024. Firstly, it was boosted by a slight upward exploration in the long-term contract prices of large tungsten enterprises. 

At the beginning of the week, the overall focus of Chinese rare earth prices showed no significant changes. 

Chinese molybdenum price remained stable at the beginning of the week. Amid conflicting factors such as a low willingness of molybdenum concentrate holders to reduce prices and high pressure from downstream users such as steel companies to lower prices, the market trading atmosphere was subdued, and there were limited new orders.