Market Insights: China Tungsten Price Stability Amidst Demand Dynamics

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price maintained a stable state, with the atmosphere of supporting price increases in the raw materials sector still prevalent. 

Resources at lower levels of the market are difficult to find, and there's a general lack of proactive consumption willingness from the demand side. Market trading continues to stagnate as needed, with participants waiting for adjustments in the market fundamentals after the two sessions.

The high-priced market for tungsten concentrates remains at around $18,000.0/ton, with the sentiment of reluctance to sell still dominant. However, profit-taking sentiment may emerge after the two sessions, and the entry of buyers in the near term might be slightly delayed.

The price of ammonium paratungstate (APT) remains stagnant at around $300.3/mtu, with a relatively sluggish pace in the follow-up of raw material price increases from the backend. There is significant pressure from backwardation in smelters, and the market remains cautious in terms of buying and selling.

Tungsten powder prices remain stable at around $40.0/kg, while the price of tungsten carbide powder remains around $39.4/kg. There is a divergence in market sentiment regarding price fluctuations in the powder market, with a wait-and-see approach regarding actual demand follow-up in the hard alloy sector. Currently, trading activity is limited.

The price of ferro tungsten remains stable at around $26,285.7/ton, with cost factors being the main driving force of the market. Downstream consumers such as steel mills remain relatively cautious, and there's only moderate heat in the market for procurement due to just-needed purchases.

The prices of waste tungsten grinding materials and tungsten bar remains stable. Market sales status is moderate, with demand suppression from the alloy side hindering the enthusiasm of buyers. Industry players continue to monitor the situation of the industry chain game.

On a macro level, influenced by the Spring Festival holiday, China's CPI rose by 0.7% year-on-year in February, an increase of 1.0% month-on-month, marking the first positive year-on-year growth rate in six months and an accelerated month-on-month increase. Meanwhile, China's PPI fell by 2.7% year-on-year in February, with a decrease of 0.2% month-on-month, with a wait-and-see approach toward the future performance of domestic sales promotion incentives and external demand status.

According to data from the China Construction Machinery Industry Association, in February, sales of various types of excavators totaled 12,608 units, a year-on-year decrease of 41.2%, including 5,837 units domestically, a year-on-year decrease of 49.2%; and 6,771 units exported, a year-on-year decrease of 32%. From January to February, a total of 24,984 excavators were sold, a year-on-year decrease of 21.7%, including 11,258 units domestically, a year-on-year decrease of 24.6%, and 13,726 units exported, a year-on-year decrease of 19.1%.

Prices of tungsten products on March 13, 2024

Picture of tungsten acid 

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