Ganzhou Tungsten Association (GTA) Raised Forecasted Average Prices for April 2024

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price continues its firm trend, with the ongoing upward adjustment in the prices of intermediate smelting products and downstream deep processing products driven by high raw material prices, although market transactions remain sluggish at elevated levels.

The Ganzhou Tungsten Association (GTA) recently announced the forecasted average prices for the domestic tungsten market in April 2024: 55% black tungsten concentrate at $18,214.3/ton, up $571.4/ton; ammonium paratungstate (APT) at $306.7/mtu, up $9.7/mtu; and medium-grain tungsten powder at $41.4/kg, up $1.5/kg from March 2024. 

The price of 65% black tungsten concentrate is approaching the $18,571.4/ton mark, with holders cautiously pursuing profit amid high-level price increases. The continuous strengthening of commodity prices globally due to excess currency issuance, coupled with firm quotations from institutions and tungsten raw material companies, dominates the market's pursuit of higher prices, but transactional pressure persists.

The price of APT remains stable at around $309.9/mtu, with market offers mainly exploring higher costs, but limited acceptance from actual consumers, resulting in stagnant transactions.

Tungsten powder prices remain stagnant at around $40.9/kg, with tungsten carbide powder stagnant at around $40.5/kg. Downstream alloy companies have raised their quotations, providing some support to the raw material market sentiment, although transaction volumes are still being observed.

The price of 70% tungsten iron remains stagnant at around $26,857.1/ton, with market costs dominating and downstream consumption relatively pressured, reflecting significant cautious sentiment in the market at elevated levels.

The price of waste tungsten grinding materials remains stable at around $0.34/degree, while the price of waste tungsten bars is around $30.0/kg. The strong momentum in the tungsten raw material market has driven up the prices of recycled products, coupled with increased demand, although actual consumption remains subdued.

Prices of tungsten products on April 11, 2024

Picture of black tungsten concentrate 

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