Total Control Quota for Tungsten Mining Has Been Reduced for the first Time Since 2019

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues to stabilize at high levels, with cost considerations remaining dominant. 

Some smelters and alloy users have followed suit in raising prices, but actual transaction implementations are limited, with the market maintaining demand-driven inquiries and stocking, and the industry chain's deadlock continues.

The high-grade tungsten concentrate market maintains stability at around $18,000.0/ton, with miners unwilling to negotiate on prices, resulting in stagnant market transactions. The total control quota for the first batch of tungsten mining this year has seen its first decline in five years, attracting industry attention, and short-term resource resilience is maintained.

Ammonium paratungstate (APT) prices remain stable at around $300.2/mtu, with partial cost influences exploring highs, but it's difficult to achieve high-level transactions. Tungsten powder prices remain stagnant at the $40.0/kg mark, while tungsten carbide powder prices remain stable at around $39.4/kg, with divergent discussions in the market and cautious inquiries and orders based on demand.

The Ministry of Natural Resources recently issued the total control quota for the first batch of tungsten mining (containing 65% tungsten trioxide) for 2024 at 62,000 tons, a decrease of about 1.59% compared to the first batch quota of 63,000 tons in 2023. The quota reduction adjustments mainly come from Heilongjiang Province (reduced by 800 tons), Zhejiang Province (reduced by 100 tons), and Anhui Province (reduced by 100 tons). According to information from Chinatungsten Online, this is the first time since 2019 that the total control quota for the first batch of tungsten mining has been reduced.

Prices of tungsten products on March 21, 2024

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Picture of tungsten wire 

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