Analysis of latest tungsten market from ChinaTungsten Online

China tungsten prices continued the downward trend in the week to Friday December 7. Bad trading atmosphere and lowered tungsten forecast prices from institutions and large companies contributed to the weaker mood in market trend. Downstream factories remained low trading activity and transaction prices were under pressure. 

Rare earth market quotation in China: domestic rare earth price is unchanged from last week. After the adjustment of rare earth prices in the first half of December, the current market participants hold a wait-and-see attitude toward the ban on imports of Myanmar mines. The trading atmosphere in the market is thin and the transactions at high prices are rarely concluded. 

Opening this week, China molybdenum prices remain stable on continued deadlocked supply and demand and weakness in steel biddings. The supply of molybdenum concentrate is tight, trading activity increases, but sellers are reluctant to sell at low prices. ferro molybdenum market is under pressure as the demand and capital shortage need to be resolved. 

Analysis of latest tungsten market from Chinatungsten Online

Early in December, average tungsten prices from Ganzhou Tungsten Association and offer levels from large tungsten companies were released, which lowered slightly compared with last time. The weakening trend made market mentality to be under pressure. 

China rare earth prices are stable with good momentum in the week to Friday December 7. Earlier in this week, listing prices of Southern Rare Earth edged higher, boosting market confidence that benefited from expectations of tight supply. Insiders generally have strong rised mentality, but the weakness in demand side limited actual transactions. Therefore, in the short term, rare earth price will tend to stabilize. 

In the Chinese molybdenum market, prices of molybdenum powder, ammonium tetramolybdate and ammonium molybdate maintain stability, affected by tight supply of raw materials but weak demand in terminal market. 

Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices came under pressure because of weak buying interest, with exporters of ammonium paratungstate (APT) and ferro-tungsten adjusting their offers downward.

In the Chinese rare earth market, prices of dysprosium oxide, lanthanum oxide and europium oxide climbed slightly in the midweek due to good sentiment of market participants. 

Prices of molybdenum oxide, ferromolybdenum and molybdenum concentrate dropped slightly in the midweek in the Chinese market. Recently, steel mills have been slowed down in tenders, further weakening market confidence. 

Analysis of latest tungsten market from ChinaTungsten Online

Xiamen Tungsten released its offer level for ammonium metatungstate (APT) at $271.2/mtu for the first half of December, down $3.5/mtu compared with last month. The further decline in large enterprises’ offer levels it in line with current downward trend in the market.