Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices remained weak adjustment in the week to Friday October 26. The new tungsten forecast prices released in last Monday were unchanged, and fewer new increased orders in downstream factories also weakened market confidence. Although costs supported the stabilization in tungsten raw material prices, trading prices moved lower. 

Rare earth market quotation in China: the latest prices of praseodymium oxide, europium oxide and praseodymium neodymium oxide are unchanged from last week on continued weak buying interests. The deadlocked supply and demand is hard to be eased while the policy side remains quiet. Market participants wait and see the next move in November. 

Opening this week, Chinese molybdenum prices continue to be stable. The tight supply of raw materials raises molybdenum concentrate sellers’ rised mentality. Large steel tenders of steel mills at the end of this month also tighten market supply, but inquiry increases and ferro molybdenum manufacturers are positive about the outlook. Offers for molybdenum chemical products keep firm, supported by costs and supply. However, traders become cautious to purchase high-price molybdenum raw materials. 

Analysis of latest tungsten market from ChinaTungsten Online

Both the tungsten raw material and ammonium paratungstate markets continue to be cautious about the trading amid concerns of supply disruptions due to continued environmental inspections in China.

The latest prices of terbium oxide, praseodymium oxide, lanthanum oxide and praseodymium neodymium metal decline slightly in the week to Friday October 26. Due to thin trading volumes, buyers forcing prices down and lowered listing prices of large enterprises, benefits from environmental inspection and cost have been weakened.

The latest prices of molybdenum concentrate, sodium molybdate and molybdenum powder edge higher in the week to Friday October 26. Chinese environmental checks in major production areas are in a grim situation. In addition, steel mills are expecting a large number of tenders at the end of this month and merchants are worried about the tight supply of raw materials. Molybdenum miners and ferromoly manufacturers are reluctant to sell, raising offer levels. 

Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices remained weak adjustment as raw material manufacturers’ rised mentality did not get support from the fundamentals of supply and demand and new tungsten guide prices. Downstream factories were not active in accepting orders amid cautious mentality of insiders. Tungsten product offers around the top of current ranges also showed signs of decline.  

The latest prices of europium oxide, cerium oxide and praseodymium neodymium metal are unchanged from the previous trading day, although the whole market prices tend to decline. The weakness in demand side continues to affect trading volumes thin market trading and quiet policy side weaken traders’ confidence. But under the support of environmental protection and production costs, rare earth price is not likely to decline sharply.  

Affected by Chinese environmental checks in major production areas in Jiangxi province, Chinese molybdenum prices continue to keep firm and market confidence is boosted. Prices and quantity of steel biddings show good signs, increasing trading activities. 

Analysis of latest tungsten market from ChinaTungsten Online

Tungsten guide prices were released by large enterprises on Monday October 22, which showed a more conservative approach of most insiders to the outlook. The weak demand for tungsten carbide and alloy products discouraged manufacturers in the raw material side. The deadlocked supply and demand in the industry chain also made market trading thin. Given that, mainstream tungsten product prices may be difficult to rise, but are likely to decline.