China’s Ganzhou Tungsten Association Raised Average Tungsten Forecast Prices for June 2024

Details: Category: Tungsten's News; Published on Wednesday, 12 June 2024 14:18

Analysis of latest tungsten market from Chinatungsten Online

The short-term tungsten market remains stable as the Ganzhou Tungsten Association (GTA) and major tungsten enterprises have released their latest price guidance.

Compared to the late May quotations, there have been slight downward adjustments. However, the extent of these adjustments is limited and remains within the current market conditions, aligning with merchants' expectations for a stable market bottom. The price of 55% white tungsten concentrate is temporarily stable at $21,428.6/ton.

In contrast, downstream alloy users and their end customers are slower to respond to fluctuations in tungsten raw material prices. The recent slight retreat in raw material prices has exerted pressure on their order fulfillment, with market demand showing weak performance. Leading up to the Dragon Boat Festival, the trade atmosphere across various segments of the tungsten industry is characterized by caution and stalemate, resulting in sluggish transactions.

According to Chinatungsten Online, the Ganzhou Tungsten Association's average tungsten forecast prices for the domestic tungsten market in June 2024 includes the following average prices: 55% black tungsten concentrate at $21,571.4/ton, an increase of $1,071.4/ton compared to May; ammonium paratungstate (APT) at $364.0/mtu, an increase of $23.4/mtu compared to May; and medium-grain tungsten powder at $48.9/kg, an increase of $3.1/kg compared to May.

Prices of tungsten products on June 7, 2024

China tungsten price image