Analysis of latest tungsten market from Chinatungsten Online

In July 2024, the overall tungsten market in China is in a bottom-seeking phase, with the maximum decline in tungsten ore prices reaching 8.5% during the month. Since the downward cycle began at the end of May, the total decline has reached 17.2%. Weak market demand and panic selling by traders are the main negative factors.

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices in the Chinese market have slightly risen, with a relatively tight supply and a market-supporting sentiment spreading to the mid-to-downstream segments of the industry chain. 

According to information from Chinatungsten Online, the overall performance of China's rare earth market in July 2024 was unsatisfactory. Under the intertwining of various bullish and bearish factors, the attitudes of light and heavy rare earth traders varied, and market transactions did not meet expectations.

According to information from Chinatungsten Online, the overall trend of molybdenum product prices in China was relatively stable in July 2024. At the end of the month, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum oxide were slightly higher than at the beginning of the month, while the prices of molybdate, molybdenum powder, and molybdenum bars were slightly lower. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable with slight support from the supply side, increasing cyclical stability and rebound intentions among suppliers, resulting in a reluctance to sell. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market has gradually entered a phase of stabilization, with limited supply-side variables and traders' resistance to further price drops. Additionally, the typhoon weather in the south has somewhat restrained the release of low-priced resources. However, there has been no substantial improvement in market demand, and the overall off-season atmosphere remains apparent.

At the beginning of the week, Chinese rare earth prices fluctuated within a narrow range due to the interplay of various factors, leading to intense price negotiations among traders. 

At the beginning of the week, Chinese molybdenum prices slightly declined. Specifically, molybdenum concentrate and ferromolybdenum prices dropped by approximately 20 yuan/ton and 1,000 yuan/ton, respectively. 

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price remains stable, with demand continuing to be sluggish, affecting the tungsten raw material market. 

This week, Chinese rare earth prices have shown mixed trends. Amid intense price negotiations between buyers and sellers, market trading sentiment remains subdued with low transaction volumes. Currently, industry players are primarily focused on the allocation of rare earth quotas for the second half of the year.