Tungsten Power Price Is Holding Steady, While Ferro Tungsten Market Is Under Pressure

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices remain stable because the post-holiday market demand has been mediocre, coupled with the lackluster feedback from institutions and large tungsten enterprises regarding their pricing, resulting in a lack of overall market momentum. 

The market has relied mainly on sentiment in the mining sector and cost-related factors for support, while end-consumer demand has been lackluster, which has dampened the trading sentiment among traders and the overall price trend of tungsten products.

The quoted price for 65% black tungsten concentrate remains above $17,142.9/ton, with the holders of goods maintaining a mostly stable attitude. However, downstream end-users are negotiating prices based on their actual needs. The main circulating resources have relatively low grades and market confidence is under pressure, resulting in a stagnant market.

APT is still quoted at around $290.6/mtu, with the center of mainstream transactions under pressure. Market buying and selling activities have not fully recovered, and the demand-side situation is affecting the operation of smelters. Actual transactions are primarily based on actual demand.

Tungsten powder price has adjusted to $38.7/kg, mainly due to the fact that the favorable boost in consumption from the alloy side after the holiday is not yet apparent. There are many inquiries in the market, and some traders are offering discounts, but the overall effectiveness has been moderate. Considering raw material cost factors, the market remains stagnant.

The price of 70% ferro tungsten has remained stable at around $24,857.1/ton, with a slightly sluggish raw material atmosphere. Downstream consumption has maintained just-in-time orders, and the market has mainly experienced narrow-range consolidation.

On the macroeconomic front, due to expectations of the positive effects of various support policies on economic recovery in China, several mainstream institutions have raised their GDP growth forecasts for China in 2023. JPMorgan Chase forecasts 5% (previously 4.8%); Citigroup predicts 5% (previously 4.7%); ANZ Bank predicts 5.1% (previously 4.9%); Deutsche Bank predicts 5.1%; and Goldman Sachs predicts 5.4%.

Prices of tungsten products on October 11, 2023

Picture of tungsten trioxide 

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