Chinese Tungsten Prices Stabilize in the Middle of January 2024

Details: Category: Tungsten's News; Published on Thursday, 18 January 2024 16:43

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices continue to remain stable, with resilience observed at the mining end. Intermediate smelters and downstream users face challenges in balancing demand and resource supply costs, leading to a cautious and observant market sentiment. Overall, trading activity remains light.

The price of tungsten concentrate is maintained at the level of $17,571.4/ton, and the overall sentiment at the mining end remains resilient and stable. However, downstream acceptance of high-level raw materials is limited due to substantial demand factors, leading to a market characterized by cautious trading.

Ammonium paratungstate (APT) prices are held at $293.8/mtu. Limited consumption power downstream, coupled with notable cost pressures at the factory level, results in large tungsten enterprises providing long-term quotations reflecting the current market's stable and stagnant state, with transactions being released according to demand.

Tungsten powder prices are consolidating at the level of $39.0/kg. Downstream stocking intentions remain inactive, and the fundamental market status in the hard alloy sector restrains the powder raw material market. The market's recent stance is characterized by a wait-and-see attitude.

The tungsten scrap market remains relatively stable, with grinding material prices above $0.3 per degree. The overall supply and demand in the scrap market show a dual weak state, with sellers mainly adopting a resilient stance, buyers exercising caution in receiving goods, and the market exhibiting a lukewarm atmosphere in terms of actual transactions.

Prices of tungsten products on January 18, 2024

APT price image