Xianglu Tungsten Raised Long-term Purchase Price for Tungsten Raw Materials in April 2024

Details: Category: Tungsten's News; Published on Wednesday, 17 April 2024 17:35

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues to remain firm, with cautious sentiment towards chasing highs.

The bullish market conditions are mainly due to: 1)Tight supply and strong demand at the tungsten ore end driven by policy, sentiment, and the objective fact of non-renewable resources; 2)A significant increase in long-term contract prices from large tungsten companies, matching the current market's atmosphere of exploration; 3)Increased demand for safe-haven assets under geopolitical factors and rising prices of strategic resources such as tungsten and rare earth metals.

On the demand side, the proposal of new productive forces and large-scale equipment renewal actions in the industrial sector has increased expectations for manufacturing industry recovery. Applications of tungsten-related materials such as hard alloys, tooling, and high-temperature alloys are expected to be enhanced. However, the uncertainty surrounding geopolitical tensions and monetary policies in major economies has somewhat restrained the global trade and investment situation. In this context, the strategic resource value of metal tungsten is rising, but the actual demand in the manufacturing sector remains to be seen.

According to Chinatungsten Online, Xianglu Tungsten's long-term purchase price for tungsten raw materials in April 2024 (including 13% VAT) is as follows: Black tungsten concentrate with a tungsten content of over 55% is priced at $18,642.9/ton, an increase of $857.1/ton; White tungsten concentrate with a tungsten content of over 55% is priced at $18,500.0/ton, an increase of $857.1/ton; Ammonium paratungstate (APT) is priced at $309.9/mtu, an increase of $11.3/mtu compared to March 2024.

In the second half of April 2024, the purchase price for APT by Xiamen Tungsten is $309.9/mtu, which is $7.3/mtu higher than the price in the first half of the month.

Prices of tungsten products on April 17, 2024

China tungsten price image