China Tungsten Price Maintains a Strong Trend in the Middle of April 11, 2024

Details: Category: Tungsten's News; Published on Friday, 12 April 2024 16:01

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price maintains a strong trend on April 11, 2024.

Fundamentally, there is an expectation of tight supply in the market, while demand remains uncertain. The sentiment of price increases along the industry chain is transmitted from the tungsten mining end to the smelting end and then to the alloy end, transitioning to the scrap tungsten market. High-level transactions in the market are relatively under pressure.

From a macro perspective, signals of domestic demand recovery are strengthening, while overseas markets are fraught with instability. The global expansion of currency and expectations of rising prices are driving the strength of resource products. International gold prices continue to rise amid complex geopolitical factors, exhibiting a strong performance in the non-ferrous metal sector.

The price of tungsten concentrate has reached above $18,571.4/ton, with holders still intending to challenge new highs as the release of resources remains relatively tight.

The price of ammonium paratungstate (APT) has been adjusted to around $311.5/mtu, with cost factors dominating the market and a trend toward strength, while transaction volumes remain cautious.

The price of tungsten powder is testing around $41.1/kg, while the price of tungsten carbide powder is stabilizing around $40.7/kg. Merchants' quotations are based on raw material costs and institutional forecasts, with hard alloy companies passively following price increases, and trading being cautious and demand-driven.

The price of 70% ferro tungsten remains stagnant at around $26,857.1/ton, supported by high tungsten raw material prices, while steel mills and other consumers are observing and trading cautiously as needed, with trading remaining stagnant.

The price of scrap tungsten grinding materials remains stagnant at around $0.34/degree, while the price of scrap tungsten bars remains stable at $30.0/kg. The main driving force in the market is still on the cost side, with consumer sentiment remaining cautious.

Prices of tungsten products on April 12, 2024

China tungsten price image