China Tungsten Market Shown a Strong Trend Following the Rise in Long-term Contract Prices

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market has generally shown a steady to slightly stronger trend in the week ended on Friday, November 22, 2024. Following the upward adjustment of new long-term contract prices by major tungsten enterprises, the raw material sector has shown an increased willingness to raise prices. 

However, the cost transmission faces significant resistance in the downstream and midstream sectors, placing considerable pressure on the smelting and alloy sectors. The overall market remains in a state of cautious trading, with a slight increase in profit-taking sentiment toward the end of the month.

65% Black Tungsten Concentrate: Prices are testing the $20,422.5/ton mark. Suppliers are reluctant to sell, making low-cost resources scarce. Downstream buyers are forced to accept higher prices, though transactions are somewhat delayed.

Ammonium Paratungstate (APT): Prices have reached around $339.0/mtu. While consumer enthusiasm for higher prices remains limited, strong cost factors are exerting significant pressure, worsening profitability challenges for manufacturers.

Tungsten Powder: Prices are at $44.9/kg, while tungsten carbide powder is at $44.2/kg. The cost support remains strong, but purchasing activity on the consumption side is cautious at high price levels, with traders continuing to transact based on actual demand.

Ferro-Tungsten (70%): Prices are stabilizing at approximately $30,281.7/ton. Sellers remain firm in their stance, while buyers replenish stocks steadily based on need. Actual transactions involve ongoing negotiations, with prices adjusted in line with market conditions.

Scrap Tungsten: Prices are holding steady, driven by tight supply and rising raw material costs. However, end-use consumption demand remains limited, and profits have been partially squeezed. As a result, liquidity in both resources and funds remains relatively constrained.

Prices of tungsten products on November 25, 2024

Picture of tungsten crucible

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