Xiamen Tungsten Raised Purchase Price for APT for the Second half of March 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain stable with consolidation, although consumption conditions outside of essential demand are not ideal, the support from cost considerations forces smelters and downstream alloy companies to reluctantly raise their prices.

 Recently, the tungsten industry chain has been in a period of high-level stalemate, with participants waiting for fundamental bargaining and directional news to enter the market.

According to information from Chinatungsten Online, state-owned Xiamen Tungsten has raised its purchase price for intermediate product ammonium paratungstate (APT) for the second half of March 2024 to $298.6/mtu, an increase of $3.2/mtu compared to the first half of the month. The long order level is basically in line with the current market expectations, providing some support for market stability.

China’s Tiangong International has issued several price increase notices since the beginning of this year due to continuous rises in raw material prices. On January 10th and March 1st, they raised the prices of their entire range of mold steel products and some high-speed steel products. After adjusting the prices of precision tools and cemented carbide rods from March 1st, they plan to adjust the prices of all cemented carbide products again from March 25th.

China’s Jiujiang Golden Egret plans to adjust the selling prices of some cemented carbide products starting from March 20th due to the continuous increase in production costs caused by rising raw material prices.

Prices of tungsten products on March 20, 2024

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Picture of tungsten concentrate 

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