China Tungsten Prices Were Stable After the Dragon Boat Festival

Analysis of latest tungsten market from Chinatungsten Online

On the first day after the Dragon Boat Festival, China tungsten prices were temporarily stable. 

The market fundamentals were still in a stalemate. After the central environmental protection inspection work was temporarily over, the main production areas of tungsten products, such as Jiangxi, Hunan, and Yunnan, continued to pay attention to the uncertainty risks of the international macro environment.

The price of 65% black tungsten concentrate remained at $21,857.1/ton. The current low spot is still hard to find. Buyers are not willing to take the initiative to accept the goods, and the overall resource liquidity is slow.

The price of ammonium paratungstate (APT) was stagnant at around $364.8/mtu. The market resource supply is expected to increase after the holiday, but the current volume is still limited, and the mentality game in the market has intensified.

The price of tungsten powder was stagnant at $48.4/kg, and the price of tungsten carbide powder was consolidated at $47.7/kg. There were differences in confidence at all ends of the industrial chain. The purchasing activity of alloy users was not high, and the market was in a wait-and-see stalemate.

The price of 70 ferrotungsten is $32,428.3/ton. The cost support is still relatively strong, the demand side is limited, the market trading heat is limited, and the wait-and-see news is updated.

The scrap tungsten market is weak and stable, and the supply of tungsten raw materials is at a cyclical turning point. The confidence in the market is at a sensitive node. The widening of the price difference between the quotations on the market has weakened the overall trading sentiment, and the short-term trading atmosphere is not good.

According to the data of the General Administration of Customs, in the first five months, China's total import and export value was 17.5 trillion yuan, a year-on-year increase of 6.3%. Among them, exports were 9.95 trillion yuan, a year-on-year increase of 6.1%, and imports were 7.55 trillion yuan, a year-on-year increase of 6.4%. ASEAN, the EU, and the United States are my country's top three trading partners, with total import and export values of 2.77 trillion yuan, 2.23 trillion yuan, and 1.87 trillion yuan, respectively, up 10.8%, down 1.3%, and up 2% year-on-year; the total import and export to the countries jointly building the "Belt and Road" was 8.31 trillion yuan, a year-on-year increase of 7.2%.

Prices of tungsten products on June 12, 2024

Picture of tungsten ore 

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