Tungsten Prices Stabilized Temporarily After the Lantern Festival

Details: Category: Tungsten's News; Published on Wednesday, 28 February 2024 17:31

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, tungsten prices stabilized temporarily as the market adopted a wait-and-see approach.

With the resumption of production activities along the industrial chain after the Lantern Festival, market expectations for increased resources gradually rose. However, demand performance still requires observation.

The price of 65% black tungsten concentrate is hovering around $17,857.1/ton, with a slight increase in overall shipping intentions in the market. However, clarity regarding high-level transactions remains unclear, as businesses are reluctant to offer discounts for shipments, and trading in the market remains stagnant.

Ammonium paratungstate (APT) prices remained relatively firm, stabilizing at around $297.0/mtu in tandem with the market. The purchasing enthusiasm of downstream end-users needs further follow-up, and market negotiations continue to stagnate.

Tungsten powder prices remained steady at around $39.4/kg, while the price of tungsten carbide powder remained unchanged at around $39.0/kg. Powder manufacturers exhibit average confidence, observing the dynamics of the industrial chain, with weak initiative in purchasing stock for hard alloy applications.

The price of 70% ferro tungsten remained stable at around $25,857.1/ton, supported by cost and external instability, with the market remaining relatively firm. However, favorable conditions in the consumer market remain limited.

The scrap tungsten market continues to operate steadily, with holders mainly adopting a wait-and-see attitude, hoping for price increases. Downstream users are cautious in accepting goods, resulting in limited market activity, and the market remains stable for the time being, adopting a wait-and-see approach.

Prices of tungsten products on February 27, 2024

China tungsten price image