Recently, the guidance price of tungsten products which is published by some regional association (ex. Ganzhou Tungsten Industry Association) and enterprises (ex. Chongyi Zhangyuan Tungsten Co., Ltd) falls significantly.

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“President Xi has declared that core technology cannot be bought or be begged for. The innovation of technology requires a road not taken. Xi called for courage to explore the uncharted courses and realize the goal that key and core technologies are self-developed and controllable. The initiatives of innovation and development must be securely kept in our own hands.” ---- A CCTV journalist has quoted the speech of president when he summed up in the program of Xiamen Tungsten Industry Development.

Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices remain weak adjustment on Friday August 10, affected by unstable macro economy, muted demand and weak tungsten guide prices. APT prices slid amid more availability and lackluster demand in off-peak season.

Chinese rare earth prices are unchanged from previous trading day on unclear outlook and rare positive news. Affected by weak demand in terminal market, trading activity is slow and sellers reduce prices to move materials in some region. International rare earth prices are falling by 3% to 4% from last month, Japanese media reported.

Molybdenum market in China: molybdenum powder price goes up while molybdenum concentrate declines slightly compared with last trading day. Mines stopping production to undergo repair, steel biddings and other cyclical factors’ influences are reduced to Chinese market and prices seem to fall. Sales increase while trading activity is low in off-peak season.

The latest price of europium oxide, praseodymium oxide and praseodymium neodymium oxide is unchanged from the previous trading day amid lackluster demand and quiet policy side. The Chinese rare earth market is slow this week, with prices stability and trading activity limited. market participants wait and see the newest policy for purchasing and storage.

Chinese molybdenum prices maintain stability on Thursday August 9, with the end of steel tenders and more risks by high prices. Manufacturers decline their offer levels to foreign buyers, although supply tightness of raw materials and production costs give strong supports. Production has not yet recovered completely as most mines are shut down to undergo repair. And muted demand drags upstream market down.

Analysis of latest tungsten market from ChinaTungsten Online

The new round of guide prices were released by large tungsten enterprises earlier in this week, further pressing down Chinese tungsten prices. Considering weakness in terminal demand and thin trading, insiders are generally negative about the outlook.