Analysis of Current Trends in Tungsten Market Prices in the Middle of April 2024

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, tungsten market prices remained firm, with modest support from market demand but ongoing speculative sentiment on the cost side. Coupled with some essential orders, the tungsten product price market remained robust.

The price of 65% black tungsten concentrate is reported to be around $18,714.3/ton, with relatively tight market resources. Long-term expectations suggest a relative tightening of tungsten ore supply due to intensified environmental regulations, stricter control over mining volumes, declining resource grades, and strategic resource maintenance under geopolitical factors. In the short term, the rise in resource product prices and suppliers' reluctance to sell are mainly driven by monetary issuance and the soaring prices of precious metal-dominated commodities in the market. Overseas tungsten mine development currently faces limited competitiveness compared to domestic resources in terms of technological levels and cost risks. However, attention should be paid to the process of increasing production and improving quality as profit attractiveness increases.

Ammonium paratungstate (APT) prices are stabilizing around $313.2/mtu, with smelters adopting cautious sales operations. The upward trend in raw material prices does not match the cautious downstream consumption, with companies following suit in raising prices but with limited profit margins.

Tungsten powder prices remain at the $41.4/kg level, mainly supported by cost factors and institutional forecast averages. The price of tungsten carbide powder adjusts with the market to around $40.9/kg, with alloy companies showing cautious purchasing behavior and the market trading atmosphere remaining stagnant.

The price of 70% ferro tungsten persists at the $27,000.0/ton level, with limited actual consumption orders in the market. Recent cost support is the main driving factor, with spot transactions remaining flat.

Prices of tungsten products on April 16, 2024

Picture of tungsten acid 

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