China Tungsten Prices Remained Stable in the Middle of March 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable with a stalemate in the week ended on Friday, March 22, 2024, as there was a lot of market news, including long-term contract prices from tungsten enterprises, some alloy companies raising prices, the annual first batch of tungsten mining control indicators, and tungsten product import and export data for January and February. 

To some extent, this boosted the confidence of holders to support the market. However, with weak consumption vitality in the market under high-price conditions, trading activities in the spot market remained sluggish, and the deadlock in trading continued. The situation of having prices but no buyers became more apparent, with a cautious and wait-and-see atmosphere dominating the market.

The export situation of tungsten raw materials from China in January and February 2024 was not satisfactory, but the export status of hard alloy products improved relatively. According to data compiled by Chinatungsten Online from the General Administration of Customs, China's exports of ammonium paratungstate (APT) were 77.7 tons in January and February 2024, a decrease of 68.16% year-on-year; exports of tungsten trioxide were 303.5 tons, down 44.72% year-on-year; exports of tungsten powder were 151.7 tons, down 61.91% year-on-year; exports of tungsten carbide were 582.0 tons, down 13.85% year-on-year; exports of hard alloy cutting tools plated or coated with gold were 251.2 tons, up 43.94% year-on-year; and exports of other hard alloy cutting tools were 358.9 tons, up 40.10% year-on-year.

Prices of tungsten products on March 25, 2024

Picture of tungsten carbide blocks 

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