70% Tungsten Iron Price Stabilizes as Concerns About Supply Chains Have Bolstered Seller Confidence

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices remain generally stable as the dual weakness in supply and demand becomes more pronounced at the turn of the year. 

Factories are gradually shutting down for holidays and maintenance, while consumer restocking intentions have declined, leading to slower market liquidity. Tungsten raw material prices remain firm, but downstream buyers lack confidence in price increases, resulting in a continued tug-of-war in transactions.

Prices for 65% black tungsten concentrate are reported at $20,422.5/ton. Due to tight resource availability, holders are mostly optimistic about future price trends. The market remains steady, but transactions are limited.

Ammonium paratungstate (APT) is priced at $339.0/mtu. While high raw material costs provide support, insufficient recovery in demand for downstream tungsten products has led to a prolonged standoff between bullish and bearish sentiments. The market remains flat, and corporate profits are under pressure.

Tungsten powder is priced at $44.8/kg, and tungsten carbide powder at $44.1/kg. High costs have weakened manufacturers’ willingness to offer discounts, but subdued demand has made it challenging to secure high-price transactions, leaving little room for market fluctuations.

70% tungsten iron is priced at $30,563.4/ton. Concerns about supply chains have bolstered seller confidence, but year-end demand, such as steel bidding, is cooling, keeping the market stable with average transaction activity.

Scrap tungsten prices remain firm. As a vital supplement to primary resources, the importance of recycled tungsten materials is increasing. The market fundamentals are relatively stable, reflecting recent resilience in tungsten raw material prices, but overall momentum is limited.

On the macroeconomic front, according to data from the People's Bank of China, as of the end of December 2024, China's broad money supply (M2) stood at 313.53 trillion RMB, up 7.3% year-on-year. The total stock of social financing reached 408.34 trillion RMB, an 8% increase year-on-year. For the full year, the cumulative increase in social financing totaled 32.26 trillion RMB, 3.32 trillion RMB less than the previous year. RMB loans to the real economy increased by 17.05 trillion RMB, 5.17 trillion RMB less than the previous year.

Prices of tungsten products on January 16, 2025

Picture of tungsten alloy plates 

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