Analysis of latest tungsten market from Chinatungsten Online

China tungsten price is still in the weak adjustment with deadlocked market costs and demand, and low trading activity in the market. 

Chinese rare earth prices continue to shift slightly downward.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices were sideways on Monday, and the market stability signal has not yet been clear. Due to the low initiative of downstream users in the industrial chain to purchase and stock up due to cost and demand factors, the atmosphere of profit-taking in the raw material market still exists. The short-term tungsten market is still under pressure, and the news is updated.

Analysis of latest tungsten market from Chinatungsten Online

The overall Chinese tungsten price is in the downward trend in the week ended on Friday, June 21, 2024, mainly due to the 3%-5% drop in the long-term contract prices of tungsten raw materials of large tungsten enterprises in the second half of the month, which has weakened market sentiment, poor business buying and selling initiative, and continued game of supply and demand. 

At the beginning of the week, the domestic Chinese rare earth market showed a mixed pattern of ups and downs. Under the influence of many uncertain factors, the mentality of light and heavy rare earth traders was different, mainly reflected in the tentative increase in the price of praseodymium and neodymium, while the price of dysprosium and terbium continued to fall. 

At the beginning of the week, Chinese molybdenum price still showed a slight decline, mainly due to the low downstream demand and the weakening confidence of molybdenum mining companies in stabilizing prices. 

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices are in a negative decline cycle, and the current status of market supply and demand game remains. 

This week, Chinese rare earth prices showed an overall pattern of rising first and then falling. 

This week, Chinese molybdenum price as a whole showed a high-level weak trend, mainly due to the gradual exhaustion of favorable factors in the market and the fact that the steel bidding volume and price have not yet increased. 

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices are generally in a weak and stable state. The recent market news is relatively under pressure, especially the long-term contract prices of some large tungsten companies are weaker than expected, which has led to a cooling of market sentiment and capital, and the spot demand purchase volume and price are under pressure.