Analysis of latest tungsten market from Chinatungsten Online

China tungsten market for October 2023 is displaying a tendency of weakness. This is primarily due to slower-than-expected recovery in consumption, as the much-anticipated peak season for the market during the "Golden September and Silver October" period did not materialize as expected. This has put pressure on tungsten raw material prices. 

1.Price Trends in China's Rare Earth Market in October 2023:

According to information from Chinatungsten Online, the overall rare earth market in China during October 2023 showed a tendency towards weakness. This is primarily reflected in the price trends of various rare earth products, with the exception of dysprosium-iron alloy, which saw a slight increase in prices. 

1.Molybdenum Price Trends in October 2023:

According to information from Chinatungsten Online, molybdenum prices in China during October 2023 experienced an overall decline. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, tungsten prices remained stable, with no recent market updates. As the end of the month approaches, there is a growing sense of caution and a lack of trading activity in the market. Market participants are awaiting clear long-term contract prices from major tungsten enterprises for early November 2023. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have remained weak adjustment in the week ended on Friday, October 27, 2023, with relatively quiet market trading and a lack of positive news.

At the beginning of the week, some domestic rare earth prices in China remained stable, with a few experiencing minor declines. The interplay of various factors affecting both the bullish and bearish sentiments has led to a somewhat stagnant atmosphere in negotiations between buyers and sellers, consequently slowing down the order growth.

At the beginning of the week, domestic molybdenum prices in China continued the overall downward trend observed last week. This is mainly attributed to the strong pricing pressure from steel companies, the ongoing decline in international molybdenum prices, and the relatively rapid capacity release by mining companies.

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices in the Chinese market keep stable on October 26, 2023 with sluggish trading activity. Several challenges, including weakening external demand, rising costs, and increasing economic risks, have led to delayed performance of downstream orders for tungsten products. 

This week, China rare earth price has shown a slight overall decline, primarily attributed to limited support from favorable factors, weak downstream demand, and an abundance of spot market supply. Currently, the prices are approximately 513,000 yuan per ton for PrNd oxide, 590,000 yuan per ton for Ho oxide, and 8,240 yuan per kilogram for Tb oxide.

This week, China molybdenum price has shown a volatile pattern of rapid rises and falls. At the beginning of the week, steel companies' concentrated bidding for molybdenum iron with slightly higher bid prices, along with the continued warming of the international molybdenum market, led to a strong speculative sentiment among suppliers.