China’s domestic rare earth market is gradually heating up at the end of August 2023, as various factors intersect between bullish and bearish trends, leading to an overall increase in supplier confidence to raise prices. 

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices in the Chinese market continue to be stable because the market's wait-and-see sentiment is growing stronger as the end of the month approaches. 

The overall China molybdenum market is leaning towards weakness, as a result of the interplay between various bullish and bearish factors. Amidst this environment, the confidence of many suppliers in maintaining stable prices has slightly weakened. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price remained stable with limited updates in the market news. Supply and demand continued to maintain a stagnant situation, and short-term fluctuations in the market were unlikely, while enterprises and institutions awaited clearer pricing after the month changed.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued their steady upward trend in the week ended on Friday, August 25, 2023, primarily driven by the anticipations of price increases in the tungsten raw material market. 

Rare earth market quotation in China: DyFe, gadolinium oxide and erbium oxide prices increased slightly on August 28, 2023 mainly attributed to several factors: positive expectations for the rare earth market in the second half of the year and the relatively low inventory levels of raw materials for magnetic materials in current magnetic material companies.

At the beginning of the week, Chinese molybdenum market maintained stable and robust operations. With relatively low inventory levels in the spot market and downstream users mainly engaged in essential procurement, suppliers exhibited slightly restrained confidence in raising prices, while the willingness to lower prices was also limited. 

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and tungsten carbide powder prices remain stable on August 24, 2023 with a continued stalemate in the market. Both raw material market and downstream demand remain weak, resulting in overall tepid market transactions.

This week, Chinese rare earth prices exhibited a pattern of significant rise followed by narrow-range fluctuations. This trend can be attributed to the active inquiry and procurement by downstream users at the beginning of the week. 

This week, Chinese domestic molybdenum market demonstrated a very positive performance. Supported by factors such as increased activity in the steel tender market, a rebound in international molybdenum prices, and persistent challenges in increasing market spot supply, molybdenum raw material suppliers have regained confidence in raising prices.