Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price continued its steady upward trend in the week ended on Friday, January 14, 2022 due to the strengthened tungsten market. 

At the beginning of the week, China’s domestic molybdenum price continued to be stable and strong in the last week. Under the influence of the shortage of spot supply of molybdenum concentrate and the generally high enthusiasm of steel companies to bid for ferromolybdenum, most intermediate smelters have a strong sense of reluctance to sell and keep prices high. The ferro molybdenum price is about 164,000 yuan/ton.

At the beginning of the week, China’s domestic rare earth price showed a mixed pattern as a whole. Affected by the increasing atmosphere of the Spring Festival holiday, downstream magnetic material companies were more active in inquiring and purchasing, which prompted suppliers to hold their stocks and be reluctant to sell and hope for growth. However, with the sharp rise in raw material prices, buyers' fear of heights has also increased, coupled with limited liquidity, the order speed has slowed down.

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price continues to keep stable and firm on January 13, 2022. However, participants hold different views towards the outlook. Some of them are still worried about cost pressures under environmental protection and inflation, while others believed the epidemic and the slowdown in economic growth will affect demand less than expected.