High-grade Tungsten Concentrate Offers Keep Firmed in Late February 2024

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten price remains at a high level with a stalemate in the market, where there are divergences in trading psychology. 

Some offers are still probing upward, but transactions are relatively stagnant. The current fundamental situation shows a weak supply-demand balance. As the month-end approaches, the market sentiment is cautious, awaiting clarity on future orders from tungsten enterprises and other news.

High-grade tungsten concentrate offers are maintained at $17,857.1/ton. Holders are reluctant to offer discounts, while downstream end-users are cautious in purchasing, resulting in a stagnant and watchful market.

The price of ammonium paratungstate (APT) remains around $297.0/mtu, with smelters maintaining a wait-and-see attitude. There is a standoff between upstream and downstream players in the industrial chain, with the market cautiously avoiding the risk of backwardation.

Tungsten powder prices remain stable at around $39.6/kg, while tungsten carbide powder prices remain at around $39.0/kg. Limited transactions are realized in the local probing market, with divergent market confidence, as stakeholders wait for information on cost and the purchasing situation in the hard alloy sector.

The price of 70% ferro tungsten remains stagnant at around $25,857.1/ton, with cost support maintaining a bullish sentiment in the market. However, transactions are partially inhibited by the fear of high prices in the downstream and external risks.

The price of waste tungsten grinding materials is temporarily stable at around $0.33 per degree, and waste tungsten rod prices remain stagnant at around $29.9/kg. The market sentiment is inclined towards holding for a price increase, with relatively limited transaction activity.

Prices of tungsten products on February 29, 2024

Picture of ammonium metatungstate

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