Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have remained weak adjustment in the week ended on Friday, October 27, 2023, with relatively quiet market trading and a lack of positive news.

At the beginning of the week, some domestic rare earth prices in China remained stable, with a few experiencing minor declines. The interplay of various factors affecting both the bullish and bearish sentiments has led to a somewhat stagnant atmosphere in negotiations between buyers and sellers, consequently slowing down the order growth.

At the beginning of the week, domestic molybdenum prices in China continued the overall downward trend observed last week. This is mainly attributed to the strong pricing pressure from steel companies, the ongoing decline in international molybdenum prices, and the relatively rapid capacity release by mining companies.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices in the Chinese market keep stable on October 26, 2023 with sluggish trading activity. Several challenges, including weakening external demand, rising costs, and increasing economic risks, have led to delayed performance of downstream orders for tungsten products. 

This week, China rare earth price has shown a slight overall decline, primarily attributed to limited support from favorable factors, weak downstream demand, and an abundance of spot market supply. Currently, the prices are approximately 513,000 yuan per ton for PrNd oxide, 590,000 yuan per ton for Ho oxide, and 8,240 yuan per kilogram for Tb oxide.

This week, China molybdenum price has shown a volatile pattern of rapid rises and falls. At the beginning of the week, steel companies' concentrated bidding for molybdenum iron with slightly higher bid prices, along with the continued warming of the international molybdenum market, led to a strong speculative sentiment among suppliers. 

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and tungsten powder prices in the Chinese market remain weak on October 25, 2023, with subdued market sentiment. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remains weak, with a slight downward adjustment in the overall pricing of long-term contract prices from major tungsten enterprises, reflecting some pressure on the current market sentiment. 

Rare earth market quotation in China: neodymium oxide, praseodymium neodymium oxide and gadolinium oxide prices decline slightly on October 25, 2023, with the relatively low enthusiasm of traders, and the limited number of new orders.

Molybdenum market quotation: sodium molybdate, ammonium molybdate and ammonium heptamolvbdate prices edge higher on October 25, 2023, driven by the relatively favorable downstream demand and the limited inventory of spot goods in the market.