China Tungsten Prices Continued to Rise with Strong Raw Material Market

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued to rise in the week ended on Friday, April 19, 2024, with market sentiment factors relatively prominent.

 The impact of actual unplanned supply and demand events or macro factors has decreased. The strong tungsten raw material market gradually shows high-level suppression, entering a steady period of horizontal observation. Attention is focused on market demand coordination, profit-taking status, and the performance of a new round of large tungsten enterprises' long-term quotations.

The price of tungsten concentrate tested above $19,142.9/ton, driven by predictions of tightening future resource quantities, with a long-term bullish sentiment still strong. However, short-term market sentiment tends to be cautious due to some profit-taking and maintains a steady sideways trend.

Ammonium paratungstate (APT) prices are hovering around $316.4/mtu, with smelters' quotations relatively passive, mainly influenced by raw material costs and demand. Profit margins in the market are difficult to release, with actual transactions mostly in negotiation, awaiting the new round of large tungsten enterprises' long-term quotations.

Tungsten powder prices remain around $42.0/kg, while tungsten carbide powder prices remain around $41.4/kg. Hard alloy enterprises are passively raising prices, mainly due to the transmission of cost burdens, with limited actual demand momentum and few orders in the market.

The price of 70% ferro tungsten remains at the $27,285.7/ton mark, with some merchants following the trend of price increases, but consumer acceptance is limited, and transactions in the market are cautious and negotiated as needed.

Prices of tungsten products on April 22, 2024

Picture of tungsten trioxide 

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