Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have remained firm in the week ended on Friday, August 23, 2024. 

At the beginning of this week, the domestic rare earth market maintained a steady and positive trend. 

At the beginning of the week, the domestic molybdenum market maintained stable operations. The market saw active trading and a rapid increase in orders, driven by high inquiry and procurement enthusiasm from steel companies and the willingness of many molybdenum mining enterprises to sell.

Analysis of latest tungsten market from Chinatungsten Online

The tungsten market maintains a firm stance, with tight supply from both the mining and smelting sectors driving prices up. 

The overall rare earth market in China has performed relatively well this week, with many product prices experiencing fluctuations and upward trends.

Chinese molybdenum market has remained stable, with fierce price negotiations between buyers and sellers due to a mix of positive and negative factors. As a result, many product prices have shown little change, though transaction volumes have been decent. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have recently been in a firm range, primarily supported by tight supply at the mining end and a roughly 3% mid-month increase in long-term contract prices from major tungsten enterprises.

Analysis of latest tungsten market from Chinatungsten Online

The tungsten market is experiencing a stalemate with an upward trend. On the supply side, the tight availability of mineral resources and limited operating rates at smelters are driving strong price support, while on the demand side, restocking sentiment remains weak. Market negotiations between buyers and sellers are ongoing, but overall transaction volumes have not significantly increased.

The domestic rare earth market is generally stable, with mixed sentiments among traders of light and heavy rare earths. This is mainly reflected in the continued price rise of praseodymium-neodymium (Pr-Nd), while dysprosium (Dy) and terbium (Tb) prices are facing resistance to further increases.

Chinese molybdenum prices have shown no significant changes recently, with molybdenum concentrate, ferromolybdenum, and ammonium heptamolybdate prices stabilizing around 3,660 CNY/ton degree, 239,000 CNY/ton, and 231,000 CNY/ton, respectively.