China Tungsten Prices Remain Stable Due to Strong Support from Tungsten Mine Side

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have maintained a stable position, primarily supported by a firm stance on the tungsten mine side. However, downstream end-users remain cautious in their purchasing activities due to demand pressure and concerns over high prices, resulting in limited market activity and sluggish actual transactions.

The price of 65% black tungsten concentrate holds steady at $20,724.6/ton, reflecting a continued market-supporting attitude. Most suppliers are reluctant to sell and are waiting for prices to rise, though some are willing to sell to take profits. Downstream users are purchasing based on need and have relatively weak bargaining power. Tungsten mine transactions remain cautious.

Ammonium paratungstate (APT) prices are around $345.5/mtu, as market pressure from costs and demand continues to create a tug-of-war, leading to divided sentiment in buy-sell negotiations, which impacts transaction volume. Smelting plants are unable to relieve their cost pressure and are operating based on market conditions.

Tungsten powder prices have reached $45.8/kg, and tungsten carbide powder is priced at $45.1/kg, with significant support from production costs. The downstream alloy market still faces consumption pressure, with actual procurement mainly demand-driven. Powder sellers are making gradual, rational price adjustments.

The price of 70% ferrotungsten stands at $31,014.5/ton, with a shortage of low-cost raw materials pushing prices upward. Steel mills are cautious about purchasing at high levels, and transactions are primarily based on demand, with limited room for price negotiations.

Scrap tungsten prices are steadily rising, with suppliers maintaining a strong market stance, while buyers adopt a cautious, wait-and-see approach. The supply and demand balance are limited, and negotiations have some divergence, impacting actual transaction releases.

On the macroeconomic front, according to data from the People's Bank of China, as of the end of October, China’s broad money (M2) balance reached RMB 309.71 trillion, an increase of 7.5% year-on-year. The stock of social financing was RMB 403.45 trillion, up 7.8% year-on-year. The cumulative increase in social financing for the first ten months was RMB 27.06 trillion, RMB 4.13 trillion less than the same period last year. RMB loans to the real economy increased by RMB 15.69 trillion, a year-on-year decrease of RMB 4.32 trillion.

Prices of tungsten products on November 13, 2024

Picture of tungsten alloy discs 

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >