Consolidating China Tungsten Prices Amid Cautious Market Sentiment and Limited Demand Growth

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are consolidating, with recent fluctuations in the macroeconomic atmosphere and market sentiment having limited impact on the actual fundamentals. 

The effectiveness of domestic policies aimed at stimulating manufacturing consumption remains to be seen over time. Negotiations between buyers and sellers in the tungsten market remain cautious and stalemated, with limited room for price adjustments beyond the quotes provided by institutions and tungsten enterprises.

The price of 65% black tungsten concentrate remains firm at around $20,290.0/ton, with cautious resource releases and purchasing demand focused mainly on essential needs. Overall transaction sentiment remains stable.

The price of ammonium paratungstate (APT) is consolidating at $340.6/mtu, supported by relatively strong cost factors, but demand remains constrained. Negotiations continue in a stalemated atmosphere, with few spot orders.

Tungsten powder prices are stable at around $44.8/kg, while tungsten carbide powder is priced at approximately $44.1/kg. The tug-of-war between bullish and bearish sentiment persists, with firm support from the mining sector. However, alloy demand suppresses buyers' confidence in entering the market and limits upward price potential. As institutional and tungsten enterprise quotes are finalized, the market is expected to remain stable in the short term, based on demand.

The price of 70% ferrotungsten remains at $30,290.0/ton. The complex macroeconomic environment and various stimulus measures continue to influence the market, but trading activity remains limited as participants cautiously follow market trends. The waste tungsten market is stable and in a wait-and-see mode. While the improving macroeconomic environment has reduced suppliers' willingness to sell, terminal consumption remains sluggish, leading buyers to maintain cautious restocking plans and limiting transaction enthusiasm.

On the macroeconomic front, the World Bank recently published its East Asia and Pacific Economic Semiannual Report, stating that although China’s recent stimulus measures have provided temporary relief, the country’s economic growth is expected to further weaken next year, adding additional pressure to economies in East Asia and beyond. The World Bank forecasts China’s economic growth at 4.8% this year, with a further slowdown to 4.3% expected in 2025.

Prices of tungsten products on October 12, 2024

Picture of tungsten copper parts

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