China’s Tungsten Powder Prices Remain Stable at the Beginning of June 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are temporarily stable, with the overall market situation still in a downward cycle. 

The phenomenon of partial shutdown of small and medium-sized smelters caused by the entry of central environmental inspectors has not yet ended, resulting in limited spot market availability at low levels. This has allowed tungsten prices to remain relatively stable for a certain period. In the short term, the focus of the tungsten market is on institutional average price forecasts and long-term quotations from several representative tungsten companies.

The price of 65% black tungsten concentrate is reported at around $21,857.1/ton, with a relatively high intention to stabilize the market, but profit-taking suppresses market negotiations.

Ammonium paratungstate (APT) prices are consolidating around $364.8/mtu, with large enterprises' long-term procurement prices lower than expected, impacting sentiment in the market as they await updates on the news front.

Tungsten powder prices remain at $48,428.6/ton, with tungsten carbide powder prices consolidating at $47,714.3/ton. The atmosphere in the alloy end is more inclined to buy on rises than on falls, with trading activity subdued.

The price of 70% ferro tungsten is consolidating around $32,428.6/ton, with complex international geopolitical situations and a basic market supply-demand game, adjusting overall as needed.

The price of scrap tungsten bars remains stagnant at around $31.4/kg, with mixed confidence in market fluctuations and relatively chaotic offers, as downstream demand slows down and waits for direction from the news front.

Industry insiders believe that the strong market performance of tungsten prices in April-May partly stems from speculation by non-industry capital entering the market. As this capital gradually exits, the market's overvaluation gradually dissipates, leading to some correction in the market. However, due to the tightening of the domestic tungsten supply chain, frequent incentives for consumption potential, and the increase in the value of international strategic and hedging assets, it is expected that there will be limited room for price correction in tungsten products.

Prices of tungsten products on June 6, 2024

Picture of tungsten alloy bars 

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