Zhangyuan Tungsten Raised Long-term Contract Prices for the Second half of March 2024

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices remain stable, with major tungsten enterprises gradually releasing their latest round of long-term contract prices, which generally meet the expectations of price increases. 

From a fundamental perspective, the tungsten market is currently characterized by a stalemate in supply and demand, with suppliers controlling prices and production volume while demand-side consumption vitality is limited, resulting in subdued trading activities in the market. 

From a macro perspective, the development of new production capacities brings new opportunities for the high-quality development of the tungsten and molybdenum industry. However, the current situation of internal strength and external weakness in the economy, along with international geopolitical risks, has led to continued cautious sentiment in the market and a dominant atmosphere of short-term observation.

For the second half of March 2024, Zhangyuan Tungsten's long-term contract prices (including 13% value-added tax) are as follows: black tungsten concentrate (WO3≥55%) at $17,785.7/ton, an increase of $142.9/ton from the first half of the month; white tungsten concentrate (WO3≥55%) at $17,642.9/ton, an increase of $142.9/ton; and ammonium paratungstate (national standard grade) at $298.6/mtu, an increase of $1.6/mtu from the first half of the month.

Jiangxi Tungsten Holding Group quoted high-grade black tungsten concentrate at $18,000.0/ton, an increase of $142.9/ton from the first half of the month.

Xiamen Tungsten's APT bid price is $298.6/mtu, an increase of $3.2/mtu from the first half of the month. This long-term contract price is basically in line with the current market expectations, providing some support for the stability of the market.

Prices of tungsten products on March 22, 2024

Picture of tungsten carbide tools 

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