Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continued to be weak on March 21, 2023 when the new round of quotations from listed tungsten companies was lowered as expected, which is in line with the current basic market conditions. 

The domestic rare earth market as a whole maintains a stable operation on March 22, 2023. 

The overall center of gravity of domestic molybdenum prices is still moving down significantly on March 22, 2023, mainly reflected in the price reduction of molybdenum concentrate, ferromolybdenum, ammonium heptamolybdate and molybdenum powder to 4,200 yuan/mtu, 275,000 yuan/ton, 278,000 yuan/ton and 555 yuan/kg, respectively.

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of this week, China tungsten price continued to be weak and stable when the market trading sentiment did not improve, and buyers and sellers had different mentalities for negotiation. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was generally under pressure and corrected in the week ended on Friday, March 17, 2023, mainly due to the weak demand in the consumer market, which affected the mood of spot trading negotiations. Market participants are waiting for the long-term contract prices for the second half of this month. 

At the beginning of the week, most Chinese rare earth prices continue to decline on March 20, 2023, but the decline has been reduced compared with the previous period, mainly due to the continuous introduction of favorable policies and the gradual increase in production cost support. 

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices continue to be weak on March 16, 2023 due in part to the weakness both in the supply and demand sides. 

This week, China rare earth prices have shown a downward trend as a whole. The current downstream industries of rare earths, such as new energy vehicles and 3C consumer electronics, are doing so well. Tesla announced that the next generation of permanent magnet motors will abandon rare earths.

At the beginning of the week, China’s domestic molybdenum prices still moved down slightly. The prices of ferromolybdenum and molybdenum concentrate dropped to about 290,000 yuan/ton and 4,400 yuan/mtu respectively, while the month-on-month decreases were 22.67% and 21.43% respectively. 

The overall situation of the domestic molybdenum market is not good in the week ended on Friday March 17, 2023, mainly manifested in the fact that the prices of most molybdenum products have been falling all the way, falling to the price before the Spring Festival, and the actual transaction speed is relatively slow.