Analysis of latest tungsten market from ChinaTungsten Online

Tungsten prices were in the downward trend last week on lowered tungsten average prices released earlier last week and bad trading atmosphere in the market. With the support of tungsten ore market, price decline was limited, but tended to be weak under demand pressure. 

Rare earth market quotation in China: domestic rare earth price is unchanged from last week as the tightening availability of raw materials raises traders’ rised mentality. 

Opening this week, ferro molybdenum and molybdenum oxide prices edge higher while molybdenum powder price is unchanged from last week. Steel biddings are the focus of the market at the end of the month and with steel mills slow down to enter the market, confidence of dealers is weakened. 

Analysis of latest tungsten market from ChinaTungsten Online

China tungsten prices remain weak adjustment in the week to Friday November 22. The bad trading atmosphere covers the whole market and most purchasers make their enquiry at a relatively low level. With limited supports from supply and cost sides, and increased capital pressure, some dealers cut their profits for more sales. 

Prices of lanthanum oxide and europium oxide maintain stability while praseodymium neodymium oxide edges higher. Customs in Yunnan Tengchong announced that all resource products in Myanmar could not be imported into China, and that will affect more that 30% of import. Affected by that, market confidence is boosted. 

The latest prices of sodium molybdate, ammonium heptamolvbdate and molybdenum bar are unchanged from the previous trading day despite market prices show signs of decline. 

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Analysis of latest tungsten market from ChinaTungsten Online

Tungsten prices in China continued the downward trend, with lowered new guide prices pressing the market and capital pressure of enterprises at the end of this year. Sellers’ rised mentality is without supports and actual transaction prices are also dragged down. 

The latest prices of terbium oxide, neodymium oxide and DyFe edge higher compared with last trading day. At the beginning of the month, Myanmar banned Chinese enterprises from transporting rare earth mining, which led to increased concerns in domestic supply tightening. 

Chinese molybdenum prices remain stable in the week to Tuesday November 22 as the move in steel biddings is unknown and market participants are awaiting for the next move in the market.