Analysis of latest tungsten market from Chinatungsten Online

On Monday, China tungsten prices remained firm amidst a cautious market.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have slightly risen while remaining stagnant in the week ended on Friday, November 1, 2024, primarily driven by tight raw material supply and strong cost support. 

At the start of the week, Chinese rare earth market showed relative stability, with rare earth product prices fluctuating within a narrow range and traders primarily conducting transactions based on immediate needs. 

At the start of the week, Chinese molybdenum market remained stable, with a relatively balanced supply-demand relationship keeping trade volumes limited and market activity subdued. Traders are mainly focused on the performance of new steel bidding quantities and prices.

Analysis of latest tungsten market from Chinatungsten Online

In October 2024, the Chinese tungsten market exhibited a generally stable and stagnant state for most of the month. 

This week, Chinese rare earth prices have fluctuated within a narrow range. Due to prolonged weak demand from downstream sectors and relatively abundant spot supply in the market, it has been challenging for rare earth product prices to increase. 

This week, Chinese molybdenum prices have shown no significant changes, with prices for molybdenum concentrate, ferromolybdenum, and ammonium heptamolybdate remaining steady at around 3,750 yuan per ton, 242,000 yuan per ton, and 234,000 yuan per ton, respectively. 

Analysis of latest tungsten market from Chinatungsten Online

The trend in tungsten prices shows divergent movements.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are holding steady, with strong quotations from the mining sector, but demand remains relatively sluggish. 

Chinese rare earth market is generally characterized by a situation where prices are available but transactions are scarce.