Analysis of latest tungsten market from Chinatungsten Online

In May 2024, the overall trend of the China tungsten market continued the upward momentum from April. 

At the beginning of the week, Chinese rare earth prices continued the downward trend from last week. Among them, the prices of praseodymium-neodymium metal dropped by another approximately 9,000 yuan per ton, terbium oxide dropped by around 200 yuan per kilogram, and dysprosium iron alloy dropped by about 30,000 yuan per ton. 

At the beginning of the week, Chinese molybdenum prices fluctuated within a narrow range. This was mainly attributed to the strong sentiment among molybdenum mining companies to hold onto stocks in anticipation of price increases, as downstream demand remained relatively stable and spot inventories in the market were low. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have remained stable as the market struggles to reach an effective balance between supply and demand. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are consolidating, with a slightly weak sentiment at month-end primarily due to the need for corporate fund adjustments and profit-taking for cash realization. 

Analysis of latest tungsten market from Chinatungsten Online

This week, China tungsten prices entered a period of weak consolidation, mainly due to emotional disturbances and marginal adjustments in market supply and demand. 

The overall situation in the domestic rare earth market continues to be relatively weak. Despite the support from gradually strengthening production cost support, the good development of downstream industries such as wind power generation, and the continuous emergence of favorable news, many suppliers have a strong inclination to hold prices. 

The domestic Chinese molybdenum market is overall maintaining stable operations, with intense price negotiations between buyers and sellers due to a relatively balanced supply-demand relationship. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten prices experienced a slight pullback, with the overall long-term bullish sentiment in the market largely unchanged. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable in the week ended on Friday, May 24, 2024 as they temporarily paused after reaching historic highs.