China’s Tungsten Powder Prices Remain Stable in Early October 2024

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices remain stable with no clear directional signals, as the market continues to grapple with the supply-demand balance. Although recent favorable macroeconomic conditions have boosted inquiry activity in the tungsten market, the rallying sentiment has moderated due to stock market adjustments and increasing caution in the metals sector. 

Furthermore, a slight price increase in long-term contracts from major tungsten enterprises remains relatively conservative compared to spot market prices, with limited room for price growth given the weak demand momentum.

In the tungsten concentrate market, high-grade offers have tested the $20,000.0/ton mark, with sellers showing strong reluctance to sell at lower prices. However, downstream transactions remain cautious and sluggish, keeping the market atmosphere stable for now.

In the ammonium paratungstate (APT) market, the firm stance at the mine level supports prices, with smelters quoting around $340.6/mtu. However, subdued customer purchasing and the latest guidance price of $335.7/mtu from institutions and tungsten enterprises have tempered market expectations.

Tungsten powder prices remain stable at around $44.8/kg, while tungsten carbide powder prices hover around $44.1/kg. Limited coordination between buyers and sellers across the supply chain, coupled with relatively weak demand from the alloy sector, has kept traders cautious, with few inquiries or transactions taking place.

In the ferrotungsten market, the positive sentiment from raw material suppliers and policy incentives is supporting an optimistic outlook. However, actual demand has fallen short of expectations for this peak season, dampening overall market activity, and participants remain in a wait-and-see mode.

In the scrap tungsten market, external market activity has lifted trader sentiment, but after a brief surge, rationality has returned, leading to price corrections. The market remains in a state of fluctuation, with participants closely monitoring the price trends of primary materials and recovery in end-user demand.

Prices of tungsten products on October 11, 2024

Picture of ferro tungsten 

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