Zhangyuan Tungsten Raised Long-term Contract Prices for the First half of April 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices maintain a firm trend, with relatively tight supply in the market and limited demand-side benefits. The atmosphere of stagnant trading persists, and with the implementation of a new round of firm adjustments in long-term quotations by tungsten enterprises, the tungsten raw materials continue to drive the overall market trend of the industry chain, awaiting follow-up transactions at high levels.

According to information from Chinatungsten Online, in the first half of April 2024, the long-term contract prices (including 13% value-added tax) of Zhangyuan Tungsten for black tungsten concentrate (WO3≥55%) were $18,071.4/ton, an increase of $285.7/ton; for white tungsten concentrate (WO3≥55%), it was $17,928.6/ton, an increase of $285.7/ton; and for ammonium paratungstate (APT) (national standard grade), it was $304.3/mtu, an increase of $88.5/mtu from the second half of March.

The price of 65% black tungsten concentrate remained stable at around $18,285.7/ton. Considering various factors such as environmental supervision, resource grade, international economy, and domestic prices, most businesses are generally reluctant to make concessions.

The reference price of ammonium paratungstate (APT) is around $305.1/mtu. The main reason for the market's firm stance is the pressure of rising raw material prices and production costs for enterprises, coupled with low initiative from downstream buyers, leading to stagnant trading with negotiations as needed.

Tungsten powder prices follow suit, with quotations around $40.4/kg, while tungsten carbide powder is quoted at around $39.9/kg. Cemented carbide enterprises passively raise product prices, but still have apprehensions about raw material prices, resulting in flat sales in the powder market.

The price of 70% ferro tungsten remains stagnant at around $26,571.4/ton. Positive cost factors in the market are offset by relatively flat consumer demand, with a prevailing atmosphere of watchful waiting.

The price of tungsten grinding scraps remains stable at $0.34/degree, while the price of tungsten bars remains stagnant at around $29.9/kg. The market's supply-demand dynamics remain in a stalemate, with limited actual transactions and awaiting clarification in the news after the Qingming Festival.

Prices of tungsten products on April 7, 2024

Picture of APT 

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