China Tungsten Prices Remained Stable in Late May 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have remained stable as the market struggles to reach an effective balance between supply and demand. 

Some sellers have begun to take profits, though their willingness to continue offering discounts is limited. Buyers are negotiating cautiously and showing low purchasing enthusiasm, with overall transactions driven by essential needs. The market is closely watching for updates on long-term contracts and environmental regulations as the month transitions.

In the tungsten concentrate market, central environmental inspections have limited overall mine output. Sellers are releasing profit-taking resources cautiously, maintaining a firm stance. High-grade tungsten ore prices are consolidating around $22,142.9/ton. 

In the ammonium paratungstate (APT) market, smelters face high raw material and environmental costs amid weak supply and demand conditions. Transactions are cautious, with few orders outside of long-term contracts. The mainstream price is holding steady around $371.3/mtu. 

In the tungsten powder market, the recent slight relaxation in high raw material prices has made traders cautious, while downstream users are hesitant. The alloy sector faces increased pressure, and market opinions on future trends are divided. By the end of the month, tungsten powder prices are holding at around $48.6/kg, and tungsten carbide powder prices are steady at approximately $47,857.1/ton. 

In the ferrotungsten market, high upstream supply costs and relatively weak downstream demand limit transaction enthusiasm. The market remains mostly stable, with 70% ferrotungsten prices consolidating around $32,857.1/ton. 

In the scrap tungsten market, the expectation of easing costs is limited, and there is resistance to high-priced raw materials from the demand side. The pace of shipments has not significantly improved, and trading remains sluggish. The market is observing for directional news and developments in industry negotiations.

Prices of tungsten products on May 31, 2024

Picture of tungsten rod

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