Analysis of latest tungsten market from Chinatungsten Online

China tungsten price keeps firm on August 23, 2023 with stable support from the raw material side. However, spot transactions are relatively sluggish, attributed to the relatively weak demand and the need for a certain acceptance response cycle for market sentiment to catch up.

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices are maintaining a stable and robust trend, with significant upward adjustments in long-term contract prices for tungsten raw materials by major tungsten enterprises in the second half of August 2023, creating an atmosphere of price exploration in the spot market.

The Chinese rare earth market is overall maintaining a stable and slightly strong operation on August 23, 2023. Amid the interplay of multiple factors, the advantage of sellers has strengthened compared to the previous period. 

China’s domestic molybdenum market is maintaining a generally high and strong operation on August 23, 2023. As positive factors gradually increase, many raw material suppliers have once again raised their quotations. However, due to the continuing presence of bearish factors in the market, the price increase is relatively modest.

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price held steady, with the market trading atmosphere remaining cautious and primarily driven by on-demand transactions. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the week ended on Friday, August 18, 2023 despite limited progress in market demand. 

At the beginning of the week, China rare earth prices have seen a slight upward shift in overall focus. This is mainly attributed to restricted production from certain rare earth manufacturers, positive developments in emerging industries, and relatively low raw material inventories for magnet material companies. 

Molybdenum Market on August 21, 2023

At the beginning of the week, China’s domestic molybdenum market is generally experiencing pressure at high levels. The impact of low enthusiasm from downstream users for inquiries and purchases, combined with the continuous decline in international molybdenum prices, has led to a decrease in the stable pricing confidence of many suppliers. 

Analysis of latest tungsten market from Chinatungsten Online

The recent Chinese tungsten price has remained stable, as major tungsten enterprises' upward adjustments in long-term contract prices have boosted market confidence, resulting in robust offers from traders. 

China rare earth price has generally consolidated within a narrow range in the week ended on Friday August 18, 2023. Under the influence of various uncertainties, the trends in light and heavy rare earth raw materials, as well as rare earth permanent magnetic materials, have shown slight differences.