The Tungsten Price in the Chinese Market Shows Signs of Rise in Late February 2024

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price in the Chinese market shows signs of rise since the Spring Festival, with the market maintaining a resilient supply side and a cautious demand side. 

The fundamental situation is in a stalemate, and the atmosphere for spot transactions has not fully recovered. Industry insiders believe that the full release of resources and the level of inventory need to be observed until after the Lantern Festival and the Two Sessions. At that time, the willingness to sell in the market may significantly increase. In addition, the progress of demand observation and the realization of relevant economic and consumption stimulus measures still need time.

The price of tungsten concentrates has partially tested around $17,857.1/ton, and it is relatively difficult to achieve transactions at high levels. The trading atmosphere in the market is relatively subdued at the beginning of the post-holiday period, influenced by downstream aversion to high prices.

The APT price is stabilizing at around $297.0/mtu. Market exploration mainly considers raw material costs and large enterprise long-term contract prices. The risk of backwardation still exists in the market, and trading remains cautious and observant.

The price of tungsten powder remains stagnant at around $39.4/kg, while tungsten carbide powder is testing around $39.0/kg. Manufacturers are reluctant to offer discounts on raw materials, and there is limited enthusiasm for purchasing in the alloy sector, leading to a stalemate in the market.

The price of 70% ferro tungsten is reported to be around $25,857.1/ton, with cost-related factors supporting the focus of merchants' quotations. The actual transaction volume needs further follow-up.

The price of waste tungsten grinding materials is reported to be around $0.33/degree, while the price of rods is reported to be around $29.9/kg. Market quotations follow the trend of tungsten raw material prices rising, and the atmosphere for downstream consumption is still not active, with overall transactions being observed as needed.

Prices of tungsten products on February 23, 2024

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