China Tungsten Prices Remained Stable at the Beginning of December 2024

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of December 2024, China tungsten prices remained stable amidst a standoff between various market forces. 

The supply and demand balance in the industry is not ideal, with market liquidity being weak. Participants are waiting for the release of the next round of institutional forecasts and tungsten company price quotes.

Black tungsten concentrate prices are reported at $20,281.7/ton. Suppliers are cashing in on profits, but there is limited willingness to offer lower prices. Buyers are cautious and only purchasing as needed, leading to reduced market activity.

Ammonium paratungstate (APT) prices are at $337.4/mtu. There is a divergence in confidence between buyers and sellers, putting pressure on actual transaction prices, with noticeable price inversion at smelters.

Tungsten powder is priced at $44.8/kg, and tungsten carbide powder at $44.1/kg. Market demand remains weak, and alloy manufacturers are showing limited purchasing interest. The tungsten raw material market continues to be in a standoff, with prices holding steady.

70% tungsten iron is priced at $30,281.7/ton. There is limited new information on the market fundamentals, and many macroeconomic uncertainties remain, leading traders to follow the market trend.

The scrap tungsten market shows a divided trend. Suppliers are more willing to release material, but downstream buyers are cautious in entering the market. The overall trading atmosphere is subdued, with a focus on wait-and-see attitudes and demand-based purchasing.

Macroeconomic Overview:

According to data from the National Bureau of Statistics, in November, China's Manufacturing Purchasing Managers' Index (PMI) was 50.3%, up 0.2 percentage points from the previous month, marking the third consecutive month of increase and remaining in the expansion zone for two months. The Non-Manufacturing Business Activity Index was 50.0%, down 0.2 percentage points from the previous month. The Composite PMI Output Index was 50.8%, unchanged from the previous month.

Prices of tungsten products on December 3, 2024

Picture of APT

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