China Tungsten Price Continues to Show a Strong Trend in Early May 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continue to show a strong trend, mainly driven by tight supply at the tungsten ore end. After the May Day holiday, major tungsten enterprises and hard alloy companies once again raised their long-term quotations and product prices, reflecting market cost pressures and triggering a new round of speculative sentiment.

On the macro level, instability in international relations and fluctuations in commodity prices have fueled increased hedging demand for resource-based products. The depreciation of currencies in many countries and the general rise in prices have also been reflected in the operating costs of enterprises, driving up commodity prices. However, the potential risks in bilateral and multilateral trade may hinder consumer participation.

The price of high-grade tungsten concentrates is around $20,714.3/ton, and quotations remain high due to tight supply in the market. The price of ammonium paratungstate (APT) is around $345.4/mtu, led by the mining end, with smelters still facing severe pressure from inverted pricing, and new orders in the market being relatively scarce.

The price of tungsten powder is around $44,857.1/ton, and the price of tungsten carbide powder is around $44,285.7/ton. There are continued differences in negotiations within the market, and companies are under pressure with limited operating capacity. Hard alloy companies have once again passively raised product prices, but the actual demand foundation remains unstable.

The price of 70% tungsten iron is around $29,285.7/ton, resonating with domestic tungsten raw material costs and international supply chain risks, with speculative sentiment dominating the market recently.

Prices of tungsten products on May 8, 2024

Picture of tungsten acid 

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