China Tungsten Prices Became Weak in the Last Week of May 2024

Analysis of latest tungsten market from Chinatungsten Online

This week, China tungsten prices entered a period of weak consolidation, mainly due to emotional disturbances and marginal adjustments in market supply and demand. 

The primary tungsten market has a moderately ample supply of resources, with profit-taking and realization of profits. Downstream users are noticeably resistant to high prices, and there is an increase in bargaining after the loosening of raw materials. Sentiment in the capital market is sensitive, and overall speculative demand is weakening. The tungsten market is experiencing a rational correction, with market participants awaiting the pre-Dragon Boat Festival market stocking situation and guidance prices from institutions and tungsten enterprises.

The price of 65% black tungsten concentrate is holding steady at around $22,142.9/ton. The impact of environmental inspections on market sentiment has weakened, with some miners releasing previously hoarded resources, easing the overall tightness in the supply side.

The price of ammonium paratungstate (APT) has fallen to around $371.3/mtu in line with the market. As raw material prices shift, there is an increase in willingness to release market resources, but downstream purchasing sentiment is cautious. There is a strong bargaining atmosphere in the market, and the overall pressure of backlogged orders on smelters remains unchanged.

The price of tungsten powder is holding steady at around $48,571.4/ton, while the price of tungsten carbide powder is holding steady at around $47,857.1/ton. There is an increase in bidding sellers in the market, but downstream alloy companies are hesitant to purchase at high prices, resulting in generally average market transaction conditions.

The price of 70% ferro tungsten is holding steady at around $33,142.9/ton. Influenced by cost pressures and external environmental instability, market inventory accumulation is limited, and consumer response is not significant. Merchants are cautiously observing the industrial chain game, with limited progress in actual transactions.

The prices of waste tungsten grinding materials and tungsten bar are holding steady. Profit-taking in the market has caused some panic, with short-term traders feeling cautious pressure, resulting in a slower pace of resource circulation.

Prices of tungsten products on May 29, 2024

Picture of gold plated tungsten wire 

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