The Price of Tungsten Concentrate Stabilizes Influenced by Cautious Sentiment

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten prices continue to stabilize, with a market supply-demand dynamic still in a state of contention between bulls and bears. Industry insiders have varied signals regarding the outlook, with mining maintaining a stance of supporting the market. 

However, feedback from the alloy sector indicates insufficient demand momentum. Intermediate traders are cautiously following the market, and actual transactions are relatively quiet. The market appears to be stabilizing and adopting a wait-and-see approach towards the end of the year.

The price of tungsten concentrate is consolidating around $17,428.6/ton. Mining operations maintain a clear mindset of supporting the market, and low-level resources are scarce in the market. However, influenced by a cautious procurement strategy in the downstream sector, high-level transactions are under pressure, resulting in an overall lackluster performance in transactions.

APT (Ammonium Paratungstate) prices are holding steady at around $292.2/mtu. The alloy sector's subdued atmosphere is affecting overall market activity, with a lack of enthusiasm for increased production. Due to cost pressures, smelters are adopting a cautious stance amid fears of a downturn. The market trade atmosphere is expected to remain subdued in the short term, with companies adopting a wait-and-see approach in response to long-term orders.

Tungsten powder prices are holding at around $38.9/kg. The market fundamentals are relatively weak, and the alloy sector is experiencing pressure on supply and export, contributing to a cautious market sentiment and limiting the upward potential of raw material prices.

The price of 70-grade ferro tungsten is maintained at around $25,000.0/ton. Market sentiment is slightly more active, mainly due to uplifting factory price news, combined with cost factors driving the market. The actual demand situation is still under observation.

Prices of tungsten products on December 13, 2023

Picture of tungsten alloy cubes 

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