China’s Scrap Tungsten Market Is Stabilizing with Slight Upward Movements

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price has remained stable recently with slight upward movements. The main source of confidence supporting the market is the expectation for an increase in raw material prices. 

However, actual downstream processing and consumption in the tungsten industry are relatively weak, and there is insufficient demand for tungsten products. The pressure to sell existing inventory remains, and trading activities are still in a state of negotiation. While observing the market conditions, industry participants believe that with the accumulation of demand and financial pressures, there is a possibility of competitive bidding risks in the future. However, if both cost and stocking demand conditions can be met simultaneously, the market is expected to be more prone to rise than fall.

The price of tungsten concentrate is testing around $17,571.4/ton, with holders predominantly having a supportive stance. They are maintaining a tight supply of spot goods, and the downstream terminals are increasingly cautious due to high prices. The actual market sales performance is unsatisfactory, with a cautious and observant trading atmosphere. It is anticipated that the market will continue to be in a high-level standoff towards the end of the year.

Ammonium paratungstate (APT) prices have risen to around $293.8/mtu, with ongoing pressures on actual transactions. The cost and supply-demand dynamics are continuously in negotiation, and there is a divergence of confidence between optimistic and negative positions in the market. Smelters are maintaining a relatively low operating rate, and purchasers have limited progress in consuming raw materials. The market is adopting a wait-and-see approach with actual single-trading being demand-driven.

The price of tungsten powder is holding steady at around $39.0/kg. The powder industry is passively adjusting prices in response to the market trends in tungsten raw materials. Actual transaction focus requires further follow-up, and downstream alloy users are showing limited enthusiasm for purchases. External risk factors and the state of domestic demand recovery are being observed cautiously, maintaining a cautious trading atmosphere.

The scrap tungsten market is stabilizing with slight upward movements. The weak situation in the alloy sector continues to affect confidence in trading activities. However, due to the increase in costs and limited resources, suppliers maintain a supportive stance, and there are fewer resources available for concessions.

Prices of tungsten products on December 15, 2023

Picture of tungsten copper rods 

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