Tungsten Price Is in a Stalemate with Trading Activities Remaining Lackluster

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price trend is currently stabilizing, and the specific directional news after the New Year is still unclear. 

There is a divergence in market trading sentiment, with sellers observing backend procurement and stocking plans, while buyers are waiting for suppliers to offer discounts before making purchases. The overall trading sentiment in the market continues to be stagnant, with spot transactions driven by immediate needs.

In the tungsten concentrate market, high-level offers remain firm at around $17,571.4/ton, and traders are showing increased willingness to sell, although overall discounting is still cautious, supporting the market to maintain a high-level stalemate, with limited enthusiasm from downstream customers.

In the APT (Ammonium Paratungstate) market, the spot market is stagnant at around $293.8/mtu, with smelters dominated by a cautious and risk-averse sentiment. Spot market transactions are overall lackluster, and the profit margin is constrained.

In the tungsten powder market, overall negotiations are plateauing at around $39.0/kg, and the unclear demand for downstream stocking has led to a slight weakening of business confidence. Quotations are still supported by cost considerations, with limited new order volume in the market.

In the ferro tungsten market, the price of 70% ferro tungsten is stabilizing at around $25,142.9/ton, with limited purchasing atmosphere from steel mills and relatively high raw material costs. The market sentiment is stable, with a wait-and-see approach.

In the scrap tungsten market, both upstream and downstream participants are generally adopting a conservative and cautious attitude. Trading discussions in the market are careful, and the overall resource circulation is moderate. On the macro level, the United Nations' "World Economic Situation and Prospects 2024" report points out significant challenges to global growth due to high interest rates, escalating conflicts, weak international trade, and increased climate disasters. It is expected that the global economic growth will slow from 2.7% in 2023 to 2.4% in 2024, all below the 3% growth rate before the outbreak of the pandemic in 2020.

Prices of tungsten products on January 11, 2024

Picture of tungsten powder 

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