Analysis of latest tungsten market from Chinatungsten Online

In August 2024, China's tungsten market exhibited an overall upward trend, marked by ongoing supply-demand tensions and limited spot trading volumes. Over the month, tungsten ore prices increased by 6.82%, although they remain 10.19% below the historic peak observed in May.

At the beginning of the week, the domestic rare earth market showed mixed trends. Prices for light rare earth products generally increased, while prices for mainstream medium and heavy rare earth products continued to decline. 

At the beginning of the week, the domestic molybdenum market continued to operate on a strong note. Prices for molybdenum concentrate, ferromolybdenum, and molybdenum oxide each increased by approximately 10 CNY/metric ton unit, 1,000 CNY/ton, and 10 CNY/metric ton unit, respectively.

Analysis of latest tungsten market from Chinatungsten Online

The Chinese tungsten market remains stable, with prices holding firm. Recent market trends have been primarily driven by a strong sentiment among suppliers to hold back sales and push prices up. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have increased without a corresponding rise in trading volume, reflecting poor market liquidity. 

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices continue to rise steadily, primarily driven by the limited supply of concentrate, which falls short of the smelting capacity demand. 

The domestic rare earth market is showing a mixed trend of both gains and declines. 

The Chinese molybdenum market is generally showing a stable to slightly stronger trend. This is due to the simultaneous rise in both volume and price in steel tenders, as well as molybdenum mining companies not being in a hurry to sell. Market activity is relatively good, and many suppliers have tentatively raised their prices again. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten prices remained steady. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have remained firm in the week ended on Friday, August 23, 2024.