Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are steadily increasing, supported by tight supply and high prices from the tungsten ore side. 

The Chinese molybdenum market continues to exhibit a weak downward trend, with molybdenum concentrate and ferromolybdenum prices dropping by 20 CNY/ton and approximately 1,000 CNY/ton, respectively. Under these circumstances, traders are mostly adopting a cautious wait-and-see approach, resulting in a slow increase in market orders.

The Chinese rare earth market has generally shown an upward trend, with prices of praseodymium-neodymium oxide and dysprosium oxide breaking through the thresholds of 370,000 CNY/ton and 1,700,000 CNY/ton, respectively.

Analysis of latest tungsten market from Chinatungsten Online

In July 2024, the overall tungsten market in China is in a bottom-seeking phase, with the maximum decline in tungsten ore prices reaching 8.5% during the month. Since the downward cycle began at the end of May, the total decline has reached 17.2%. Weak market demand and panic selling by traders are the main negative factors.