China’s Xianglu Tungsten Raised Long-term Contract Prices for March 2024

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten prices stabilized temporarily, with the firm attitude of the mining end remaining unchanged. 

However, downstream terminal users are cautious in purchasing, leading to a continued stalemate in the market. Market participants are awaiting guidance on prices from institutions and major tungsten enterprises.

According to information from Chinatungsten Online, the March 2024 tungsten raw material long-term contract prices (including 13% VAT) provided by Xianglu Tungsten are as follows: the price of black tungsten concentrate with over 55% WO3 content is $17,785.7/ton, representing an increase of $357.1/ton compared to February; the price of white tungsten concentrate with over 55% WO3 content is $17,642.9/ton, also up by $357.1/ton compared to February; and ammonium paratungstate (APT) is priced at $298.6/mtu, up by $4.8/mtu compared to February.

In terms of news, according to data from the central bank, at the end of February, the broad money supply (M2) balance was 299.56 trillion yuan, an increase of 8.7% year-on-year. The scale of social financing was 385.72 trillion yuan, up 9% year-on-year. In the first two months, the incremental scale of social financing accumulated to 8.06 trillion yuan, which was 1.1 trillion yuan less than the same period last year, reaching the second-highest level in history for the same period. Renminbi loans issued to the real economy increased by 5.82 trillion yuan, a decrease of 932.4 billion yuan year-on-year.

Prices of tungsten products on March 19, 2024

Picture of tungsten plates 

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