Analysis of latest tungsten market from Chinatungsten Online

China tungsten market has generally shown a steady to slightly stronger trend in the week ended on Friday, November 22, 2024. Following the upward adjustment of new long-term contract prices by major tungsten enterprises, the raw material sector has shown an increased willingness to raise prices. 

At the start of the week, the domestic rare earth market showed a mixed pattern with both price increases and decreases. Specifically:

At the start of the week, the domestic molybdenum market remained weak but stable overall. Transaction prices for molybdenum concentrate and ferromolybdenum were consolidated at approximately 3,710 CNY/ton unit and 240,000 CNY/ton, respectively. 

Analysis of latest tungsten market from Chinatungsten Online

In the second half of November 2024, the tungsten market continued its upward price trend, with long-term contract prices from major tungsten enterprises slightly increasing. The upward trend led by tungsten ore is evident, but overall trading sentiment remains cautious, and market expectations for future trends are divided.

This week, Chinese rare earth prices showed an overall downward trend, with key products experiencing fluctuations and declines. 

This week, Chinese molybdenum market continued to operate weakly, mainly due to low steel bidding prices, a sluggish international molybdenum market, and increasing inventory levels. 

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain in a high-level consolidation phase, with market activity characterized by a cautious and stagnant atmosphere. 

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten market continues to exhibit a tight supply-demand balance, with prices largely stagnant and trading activity driven by just-in-time procurement. 

The domestic rare earth market continues to exhibit a downward adjustment trend, with prices for key products experiencing varying degrees of decline:

Chinese molybdenum prices remain relatively stable, with molybdenum concentrate, ferromolybdenum, and molybdenum powder prices consolidating at around 3,720 yuan/ton unit, 241,000 yuan/ton, and 435 yuan/kg, respectively. Amid this situation, market participants are focused on when the current stalemate may break, as order growth remains slow.