China Tungsten Prices Continue to Rise Strongly in the First Week after May Day

Analysis of latest tungsten market from Chinatungsten Online

Amidst tightened tungsten supply chain and increased environmental pressure on smelters, China tungsten prices continue to rise strongly in the first week after May Day.

The price of 65% black tungsten concentrate has reached $21,285.7/ton. Rather than taking profits, tungsten ore suppliers seem more willing to "let the bullet fly a little longer." $21,428.6/ton is a psychological barrier, and some even believe that the historical high of $21,428.6/ton is not out of reach.

The price of ammonium paratungstate (APT) has reached $353.5/mtu. Due to the torment of raw material costs and environmental pressures, smelters' product profits are at the lowest point in the industry chain. In fact, some traders have quoted prices exceeding $355.1/mtu, but acceptance at the backend is weak, and long-term contracts dominate the market circulation.

The price of tungsten powder has reached $46.1/kg, and the price of tungsten carbide powder has reached $45.4/kg. As raw material prices continue to rise and high risks accumulate, participants in the industry chain are striving to optimize their inventory control capabilities, adjusting production according to sales, and cautiously observing market demand.

The price of 70% ferro tungsten has reached $30,857.1/ton. Cost transmission from the ore end is the main driving force of the market. There is not much news about actual order updates, and traders are cautiously observing the market while following the rise.

Prices of tungsten products on May 11, 2024

Picture of barium tungsten cathode

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