Chinese Tungsten Prices Stabilized in the First Week of 2024

Analysis of latest tungsten market from Chinatungsten Online

In the first week of 2024, the overall Chinese tungsten prices remained stable, with subdued market sentiment. Operators showed little activity, and suppliers were reluctant to lower prices on the raw material side.

Purchasers had moderate demand, leading to a subdued overall trading atmosphere in the tungsten market. Adjustments in the prices of hard alloy cutting tools by enterprises were pending actual transactions, awaiting observations of the pre-Chinese New Year market and inventory reductions by mining and smelting facilities.

The price of tungsten concentrates maintained around $17,571.4/ton, with mining businesses maintaining a resilient attitude. However, due to the lack of a significant recovery in downstream consumer demand, the overall resource liquidity in the market was slow, and the market situation seemed to have value but lacked active trading.

Ammonium paratungstate (APT) prices were stable at around $293.8/mtu. Market transactions were neither high nor low, with smelting companies primarily adopting a cautious and risk-averse approach. Operators faced a dilemma, and there was a cautious observation of the dynamics between the upstream and downstream of the industry chain. Overall, the actual shipment volume of spot goods was limited.

The price of tungsten powder was maintained at around $39.0/kg. Manufacturers' offering prices were relatively firm due to cost support. However, the overall consumption situation in the hard alloy sector was not optimistic, and there was limited enthusiasm for replenishing raw material purchases. The actual transaction atmosphere in the market was generally moderate.

Prices of tungsten products on January 8, 2024

Picture of tungsten acid 

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