China’s Tungsten Powder Price Is Stable Due to Quiet Market

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices are temporarily in a stalemate in the middle of June 2024. Sellers' confidence has weakened, and buyers are not willing to buy high-priced raw materials. The market as a whole is in a stalemate and negotiation atmosphere, and the number of completed orders is limited.

The price of 65% wolframite concentrate is stagnant at around 21,714.3/ton. At present, the impact of environmental protection measures on market sentiment has weakened, and market shipments have increased slightly, but consumers are cautious about purchasing, and the overall trading activity is limited.

The price of ammonium paratungstate (APT) is stagnant at around $364.8/mtu. Smelters continue to face upside-down pressure. As the expected amount of resources in the field is relatively relaxed, the bargaining sentiment of downstream prices has increased, exacerbating the stalemate in market negotiations.

The price of tungsten powder is stagnant at $48,285.7/ton, and the price of tungsten carbide powder is stagnant at $47,571.4/ton. Powder merchants are watching the cost of raw materials and the demand for alloys. The overall market is mainly based on demand purchase and sale, and the focus of trade has been relatively under pressure recently.

The price of 70 ferrotungsten is stuck at around $32,428.6/ton, and the market trading is not hot. On the one hand, it is due to the loosening of tungsten raw material prices, and on the other hand, it is due to the slight cooling of steel mill consumption, and traders remain in a state of following the market.

The overall center of gravity of the scrap tungsten market has shifted downward, mainly due to the loosening of raw material prices, insufficient alloy consumption momentum, and the bidding and bargaining atmosphere in the market, which has put pressure on market trading confidence.

In the macro aspect, the World Bank raised its global economic growth forecast for 2024 from 2.4% to 2.6% in its latest Global Economic Prospects, mainly due to strong demand in the United States, and raised its US GDP growth forecast from 1.6% to 2.5%. The World Bank raised its GDP growth forecast for China in 2024 from 4.5% to 4.8%, mainly due to export growth overshadowing weak domestic demand. It predicts that China's economic growth rate will slow to 4.1% in 2025 due to weak investment and consumer confidence and continued downturn in the real estate industry. At the same time, the World Bank expects global inflation to fall to 3.5% this year, a slower decline than expected in January.

Prices of tungsten products on June 13, 2024

Picture of tungsten needles 

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