Chinese Tungsten Market Remains Stable in the Middle of November 2024

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten market remains stable for now. 

Due to the ongoing imbalance between raw material supply and consumer demand, although the mining sector is leading the market with a somewhat firm trend for tungsten products, actual transactions are still stagnant, resulting in a "high prices are not accepted, low prices are not reached" situation. Negotiations between buyers and sellers continue to drag on.

Key Highlights:

Tungsten Concentrate Market: The market remains tight with prices for high-grade tungsten concentrates testing $20,869.6/ton. However, actual transactions are facing resistance, as buyers are cautious in accepting shipments. Overall, transactions are mainly based on negotiations.

Ammonium Paratungstate (APT): The market is in a holding pattern, with external quotes around $347.2/mtu. The cost pressures are rising due to the firm attitude from miners, but downstream customers remain cautious in their bargaining, focusing on just-in-time demand. The situation of inverted pricing pressure remains unresolved.

Tungsten Powder Market: The market remains stable with tungsten powder prices hovering around $45.8/kg and tungsten carbide powder around $45.1/kg. There has been no significant improvement in supply-demand dynamics, and recent cost pressures have helped keep the market relatively stable.

70% Tungsten Iron: Prices remain stable at around $31,014.5/ton, with traders following market trends. Market participants are cautiously watching the tungsten raw material costs and steel tender news, with transactions happening on a need-to basis.

Scrap Tungsten Market: The market remains in a standoff, with macroeconomic sentiment remaining cautious. There are slight drivers in the fundamentals, and sellers are relatively active in quoting prices. However, consumer purchasing activity remains low, with the industry chain continuing to engage in back-and-forth negotiations.

Prices of tungsten products on November 15, 2024

Picture of thoriated tungsten wire

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