China Tungsten Price Continues its Upward Trend in Late April 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues its upward trend, with the mainstream expectation before the May Day holiday being a robust market led by the tight supply and high demand for tungsten raw materials. Amidst severe pressure from backwardation, smelters are experiencing delayed deliveries due to reluctance to accept high prices, resulting in low trading volume in the market.

The price of 65% black tungsten concentrates is quoted at around $19,571.4/ton, with smelters delaying deliveries under the pressure of backwardation and reluctance to accept high prices, leading to sluggish trading in the market.

Ammonium paratungstate (APT) prices have adjusted to $324.5/mtu, with few spot orders due to difficulty in sourcing raw materials, cost pressures, and rational consumption background.

The price of tungsten powder has reached the level of $42,857.1/ton, while the price of tungsten carbide powder exceeds $42,142.9/ton. The main driving force behind the market is from the cost side, with slightly insufficient momentum from the market consumption engine.

The price of 70% ferro tungsten is testing at $27,857.1/ton, with traders chasing higher prices driven by raw material side, but high demand has not been effectively realized yet.

Prices of tungsten products on April 25, 2024

Picture of tungsten trioxide 

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