This week, Chinese molybdenum price continued the trend of fluctuating upward since late February. This is mainly due to several factors including a decrease in molybdenum production in certain regions domestically and internationally in January, stable international molybdenum market conditions, multiple oil price increases, and frequent extreme weather conditions. 

Analysis of latest tungsten market from Chinatungsten Online

In March 2024, Ganzhou Tungsten Association (GTA) forecasts the tungsten average prices and the long-term contract prices of major tungsten enterprises for the first half of the month have been gradually released, confirming the upward trend of recent tungsten raw material prices, while continuing to boost market confidence. 

Analysis of latest tungsten market from Chinatungsten Online

The tungsten market has maintained a stable and robust trend after the Lantern Festival, with smelters and downstream manufacturing enterprises gradually resuming operations. 

The domestic rare earth market overall maintained weak stability, with intense price bargaining between buyers and sellers due to the mutual influence of multiple factors, resulting in slow transaction speeds. 

The domestic molybdenum market remains robust overall, with conflicting sentiments between molybdenum mining companies' reluctance to sell and steel companies' strong bargaining intentions, resulting in moderate market trading activity and limited new orders. 

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price remained stable as the market consolidated. 

Analysis of latest tungsten market from Chinatungsten Online

In February 2024, the overall trend of China's tungsten market showed a stable and upward trend. The main factors supporting the market were the reluctance of tungsten mines to sell and support the market. 

At the beginning of the week, Chinese rare earth price showed a downtrend trend, mainly due to factors such as slow purchasing pace of downstream users, strong resilience of manufacturers' production capacity, ample market spot supply, the month-on-month decline in the listing price of Northern Rare Earths, and news of Apple abandoning its car-making plans. 

At the beginning of the week, Chinese molybdenum market presented a stable but slightly stronger pattern, primarily attributed to the optimistic sentiment of mining companies towards holding sales. 

Analysis of latest tungsten market from Chinatungsten Online

The Chinese tungsten market maintains a firm and steady trend, mainly supported by the firm attitude of mine-side sellers, while traders and downstream enterprises maintain a firm stance on offers in line with cost, but actual consumption momentum lags slightly behind, with industry players awaiting updates on the news front after the change of month.