Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued their steady upward trend in the week ended on Friday, August 25, 2023, primarily driven by the anticipations of price increases in the tungsten raw material market. 

Rare earth market quotation in China: DyFe, gadolinium oxide and erbium oxide prices increased slightly on August 28, 2023 mainly attributed to several factors: positive expectations for the rare earth market in the second half of the year and the relatively low inventory levels of raw materials for magnetic materials in current magnetic material companies.

At the beginning of the week, Chinese molybdenum market maintained stable and robust operations. With relatively low inventory levels in the spot market and downstream users mainly engaged in essential procurement, suppliers exhibited slightly restrained confidence in raising prices, while the willingness to lower prices was also limited. 

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and tungsten carbide powder prices remain stable on August 24, 2023 with a continued stalemate in the market. Both raw material market and downstream demand remain weak, resulting in overall tepid market transactions.

This week, Chinese rare earth prices exhibited a pattern of significant rise followed by narrow-range fluctuations. This trend can be attributed to the active inquiry and procurement by downstream users at the beginning of the week. 

This week, Chinese domestic molybdenum market demonstrated a very positive performance. Supported by factors such as increased activity in the steel tender market, a rebound in international molybdenum prices, and persistent challenges in increasing market spot supply, molybdenum raw material suppliers have regained confidence in raising prices. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price keeps firm on August 23, 2023 with stable support from the raw material side. However, spot transactions are relatively sluggish, attributed to the relatively weak demand and the need for a certain acceptance response cycle for market sentiment to catch up.

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices are maintaining a stable and robust trend, with significant upward adjustments in long-term contract prices for tungsten raw materials by major tungsten enterprises in the second half of August 2023, creating an atmosphere of price exploration in the spot market.

The Chinese rare earth market is overall maintaining a stable and slightly strong operation on August 23, 2023. Amid the interplay of multiple factors, the advantage of sellers has strengthened compared to the previous period. 

China’s domestic molybdenum market is maintaining a generally high and strong operation on August 23, 2023. As positive factors gradually increase, many raw material suppliers have once again raised their quotations. However, due to the continuing presence of bearish factors in the market, the price increase is relatively modest.