Analysis of latest tungsten market from Chinatungsten Online

In mid-May, the tungsten market is entering a relatively sensitive phase, with mixed opinions on the future. Those holding inventory are generally optimistic, but any minor fluctuation could trigger a new wave of price volatility, reminiscent of the butterfly effect in the Amazon rainforest.

The overall Chinese rare earth market is relatively average on May 15, 2024, with varying price trends for major light and heavy rare earth products influenced by a mix of factors.

Chinese molybdenum market remains stable on May 15, 2024. Influenced by strong reluctance to sell at low prices from molybdenum mining companies, good downstream demand, and the pressure from steel companies to lower prices, market trading activity is moderate. Consequently, transaction prices for products are neither rising nor falling. 

Analysis of latest tungsten market from Chinatungsten Online

As pointed out by Chintungsten Online upon returning from the long holiday of May Day, tungsten product prices have surged by 20% by the end of last week ended on Saturday, May 11, 2024. 

Analysis of latest tungsten market from Chinatungsten Online

1.All tungsten products rose by more than 20%, and hard alloys are difficult to describe in a few words

Chinese rare earth prices are currently exhibiting a sideways consolidation trend. Although market demand has fallen short of expectations due to high current prices, existing raw material inventories at downstream production enterprises, and tight liquidity, suppliers have generally maintained firm quotations. 

At the start of the week, Chinese molybdenum prices showed a slight weakness at high levels. This is due to decreasing downstream demand and a reduction in the strength of supportive news. 

Analysis of latest tungsten market from Chinatungsten Online

Amidst tightened tungsten supply chain and increased environmental pressure on smelters, China tungsten prices continue to rise strongly in the first week after May Day.

Analysis of latest tungsten market from Chinatungsten Online

As summarized by Chinatungsten Online on Monday, the macroeconomic fluctuations and outlook for tungsten product prices during the May Day period are consistent, and similar to the increase in high-speed rail ticket prices, there has been a significant surge! 

Chinese rare earth prices remain relatively stable. With the supply and demand balance relatively stable and limited boost from positive news, both buyers and sellers are primarily engaging in essential transactions, resulting in few new orders. Today, the prices of praseodymium oxide, terbium oxide, and erbium oxide are holding steady at around 407,000 yuan per ton, 6,600 yuan per kilogram, and 315,000 yuan per ton, respectively.