China’s Tungsten Prices Continue Sideways Consolidation as Year-End Focus Shifts Inward

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices remain in a horizontal consolidation phase as the year-end approaches. Industry participants are generally directing their attention inward, resulting in reduced external trading activities. 

Raw material suppliers maintain stable pricing, and downstream end-users cautiously inquire about orders. The market witnesses sporadic new orders, with participants adopting a wait-and-see approach for post-holiday developments across various fronts.

In the tungsten concentrate market, mining companies exhibit resilience, quoting prices for 65% black tungsten concentrate at around $17,527.4/ton. While actual transactions are limited, there is noticeable support for the downstream sector.

In the Ammonium Paratungstate (APT) market, spot negotiations hover around $292.2/mtu to $293.9/mtu. Smelters' order placements remain relatively stable, but a cautious outlook persists. The industry chain experiences a delicate balance, with market sentiment leaning toward risk aversion.

In the tungsten powder market, the consumption side shows lukewarm activity. Sellers maintain offers at around $39.0/kg, with a diminished atmosphere of concessions ahead of the New Year. Market participants are observing developments in post-holiday demand.

In the hard alloy market, overall demand remains under pressure. However, in response to changes in raw material costs and market conditions, several tool enterprises have recently issued price increase notices, providing some stimulus to market sentiment. It is noteworthy that the risk of excess domestic tool supply still exists, and there are differing opinions on the actual post-holiday market outlook.

Prices of tungsten products on December 28, 2023

Picture of tungsten acid 

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