Rising Tungsten Prices Amid Supply Speculation

Analysis of latest tungsten market from Chinatungsten Online

Under the atmosphere of speculative price increases in the supply side, tungsten prices continue to rise steadily. 

Several representative tungsten enterprises in China have issued a new round of significantly higher long-term quotations, while the purchasing power of downstream terminals in the industry chain remains relatively weak. Thus, the tungsten market continues to exhibit a situation of high prices but low transactions.

The price of tungsten concentrate continues to break through the $19,285.7/ton mark, with both speculative buying and profit-taking sentiments prevailing. However, speculative buying still dominates, and downstream demand for high-priced goods remains low.

The price of ammonium paratungstate (APT) is passively probing the $322.8/mtu mark, with few orders beyond immediate needs. Smelting companies indicate that profit margins are still under pressure, and the risk of market inversion remains.

Some tungsten powder prices are probing the $42.9/kg mark, while the price of tungsten carbide powder is hovering around $42.1/kg. Market sentiment is divided, with significant pressure from cost considerations. However, industry players are gradually becoming concerned that irrational price hikes divorced from fundamentals will be detrimental to the sustainable development of the industry.

The price of 70% ferro tungsten iron remains stable at around $27,571.4/ton, driven by rising domestic smelting costs, while consumption is constrained by instability in the international market, leading to limited market transactions.

In the scrap tungsten market, due to the significant increase in raw material prices, the amount of scrap collected has also decreased significantly. The market is characterized by a strong hold-and-see attitude, with recycling prices adjusting upward accordingly.

Prices of tungsten products on April 24, 2024

Picture of tungsten acid 

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