Navigating the Tungsten Price Surge: Seeking Clarity Amidst Market Turbulence

Analysis of latest tungsten market from Chinatungsten Online

“When Will Tungsten Price Surge Rest?” - A Burning Question in the Tungsten Industry

Tungsten price seems to be on an unstoppable upward trajectory, causing widespread concern and curiosity within the tungsten industry. Departing from conventional supply and demand dynamics, the market is witnessing unprecedented enthusiasm for speculative trading, particularly at the mining end. Tungsten ore is now a rare commodity, with prices soaring above $20,000.0/ton. 

However, this fervor contrasts with the struggles faced by smelters, who find themselves operating at slim profit margins due to the soaring cost of Ammonium Paratungstate (APT), a critical intermediate product in tungsten refining. Despite market quotations reaching as high as $339.0/mtu, actual transactions mostly involve long-term contract prices, reflecting cautious optimism among buyers. Meanwhile, demand for tungsten alloys and other downstream products remains relatively stagnant, with traditional consumption waning and untapped potential in emerging sectors. Consequently, the tungsten powder market has been slow to respond, with offers exceeding $42.9/kg often proving challenging to materialize. Amidst intensifying negotiations along the entire supply chain, spot transactions outside of long-term contracts have become increasingly scarce.

As the May Day holiday approaches, speculation is rife regarding whether it will mark a turning point in the current market trend. Opinions among industry stakeholders and experts vary, but there is a consensus that tungsten prices are unlikely to return to previous lows, barring any unforeseen negative developments. In light of these factors, Chinatungsten Online has suggested that the $21,428.6/ton mark proposed on April 12th may represent a temporary peak in this cycle.

Prices of tungsten products on April 28, 2024

Picture of silver tungsten rods 

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