China Tungsten Prices Remain Steady at High Levels in the Middle of October 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain steady at high levels, with upstream suppliers firmly supporting the market. 

However, there is a lack of new orders from downstream end-users, leading to slow market transactions. The central government's economic stimulus package has boosted market sentiment and future expectations for the tungsten industry. However, actual consumption remains sluggish, and external risks such as economic and geopolitical uncertainties continue to warrant close monitoring.

The price for 65% black tungsten concentrate is around $20,434.8/ton, with many suppliers looking to raise prices. However, due to demand pressure, smelters and end-users are less willing to purchase at high levels, resulting in a stagnant market transaction atmosphere.

APT prices are consolidating at around $342.3/mtu. The long-term contract prices from tungsten enterprises seem relatively conservative compared to current market offers, reflecting weak industry demand confidence. The market's stable foundation appears slightly unstable as it watches the balance between costs and supply-demand dynamics.

Tungsten powder prices are holding steady around $45.1/kg, while tungsten carbide powder is priced at approximately $44.3/kg. Strong raw material prices and limited alloy orders are affecting production rates, with market offers showing slight increases, though trading activity remains subdued.

The price of 70% ferrotungsten remains stable at $30,434.8/ton. The market is observing a balance between cost support and steady demand, while waiting for clarity on both domestic and international political and economic conditions, as well as consumer recovery.

Waste tungsten prices are consolidating, with continued divergence in market views. Strong sentiment in the tungsten raw material market and national fiscal support have bolstered confidence. However, weak international economic fundamentals and insufficient alloy consumption have dampened overall trading activity, leading to a cautious market mood.

Prices of tungsten products on October 17, 2024

Picture of tungsten heaters 

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