Chinese rare earth market overall maintains a slightly strong trend on May 8, 2024. Although there are still a few products such as dysprosium iron alloy experiencing minor declines in price, many suppliers are unwilling to reduce prices and even tentatively raise their quotes. 

The overall center of Chinese molybdenum prices continues to shift slightly upward, with the price of molybdenum concentrates rising by about 50 yuan per ton, the price of ferro molybdenum rising by about 2,000 yuan per ton, and the price of ammonium molybdate rising by about 2,000 yuan per ton.

Analysis of latest tungsten market from Chinatungsten Online

1. Latest Tungsten Prices as of May 7, 2024

Analysis of latest tungsten market from Chinatungsten Online

In April 2024, the tungsten price in China continued its upward trend, driven mainly by the widening supply gap at the tungsten ore end. 

The overall prices of rare earths in the domestic market have been fluctuating within a narrow range. With the supply and demand situation relatively balanced, negotiations between buyers and sellers have resulted in a slightly sticky atmosphere, leading to low market trading activity and a slow pace of order growth. 

Domestic molybdenum market overall maintains a relatively positive trend. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues to explore higher levels, but the market volume and price are not matching. This current upward cycle is mainly driven by the scarcity of tungsten ore resources and the active resonance in the commodities market. 

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten price continues its strong trend on April 28, 2024, with the tight supply led by tungsten ore still ongoing. The market speculation is intensified by the recent rainy weather in the southern regions, exacerbating the situation of tight market resources. 

Chinese rare earth market as a whole has entered a stalemate phase. With the May Day holiday approaching, downstream users have gradually completed their procurement plans. Supported by factors such as strong production cost and positive future expectations, suppliers have limited room for price concessions, leading to a slightly stronger wait-and-see sentiment in the market. 

Chinese molybdenum market is showing a pattern of stability with a slight weakness. With the supply-demand relationship relatively balanced, discussions between buyers and sellers are somewhat deadlocked, leading to a noticeable decrease in product prices compared to the previous days, as well as a slow increase in orders.