Rare Earth Market Update - December 25, 2023

At the beginning of the week, the domestic Chinese rare earth market continued to maintain a relatively weak performance. 

At the beginning of the week, the domestic Chinese molybdenum market showed an overall pattern of high-level retracement. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues to stabilize with the release of the last round of guide prices for the year of 2023. Insiders are not optimistic about the stocking up at the end of the year, and the market is expected to be lukewarm. 

This week, the overall trend in domestic rare earth prices in China showed stability followed by a decline. At the beginning of the week, due to significant production costs and downstream users maintaining essential procurement support, most suppliers maintained strong quotations. 

The domestic molybdenum market in China showed relatively positive performance this week. 

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and ammonium paratungstate (APT) prices continue to remain stable on December 20, 2023, with the main driving factors still rooted in the fundamental supply-demand dynamics. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are maintaining stability on December 19, 2023, with a continued reluctance to sell on the supply side, and the market sentiment remains supportive. 

As of December 20, 2023, the overall Chinese rare earth market is maintaining a relatively weak operation. Specifically, there is a decrease of approximately 6,000 yuan/ton for praseodymium-neodymium oxide, a decrease of approximately 5,000 yuan/ton for praseodymium-neodymium metal, and a decrease of approximately 2,000 yuan/ton for gadolinium oxide. 

As of December 20, 2023, the overall focus of the Chinese molybdenum market has noticeably shifted upwards. Influenced by factors such as satisfactory downstream demand and a favorable international molybdenum market, suppliers' willingness to hold off sales and support prices has generally increased. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, Chinese tungsten prices remained stable when the market continued to be influenced by the ongoing negotiation dynamics between supply and demand fundamentals and spot transactions.