Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have shown a steady upward trend in the week ended on Friday, August 2, 2024. 

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 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.

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.

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.

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices in the Chinese market have slightly risen, with a relatively tight supply and a market-supporting sentiment spreading to the mid-to-downstream segments of the industry chain. 

According to information from Chinatungsten Online, the overall performance of China's rare earth market in July 2024 was unsatisfactory. Under the intertwining of various bullish and bearish factors, the attitudes of light and heavy rare earth traders varied, and market transactions did not meet expectations.

According to information from Chinatungsten Online, the overall trend of molybdenum product prices in China was relatively stable in July 2024. At the end of the month, the prices of molybdenum concentrate, ferromolybdenum, and molybdenum oxide were slightly higher than at the beginning of the month, while the prices of molybdate, molybdenum powder, and molybdenum bars were slightly lower. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable with slight support from the supply side, increasing cyclical stability and rebound intentions among suppliers, resulting in a reluctance to sell. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market has gradually entered a phase of stabilization, with limited supply-side variables and traders' resistance to further price drops. Additionally, the typhoon weather in the south has somewhat restrained the release of low-priced resources. However, there has been no substantial improvement in market demand, and the overall off-season atmosphere remains apparent.