65% Black Tungsten Concentrate Price Declines in the Chinese Market

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are generally weak due to the deadlocked market. The supply side has been relatively weak recently with the end of the environmental protection checks. And the market sentiment of profit-taking and cashing out has increased traders' willingness to release resources. 

The market demand side is sluggish, and the price of tungsten raw materials has weakened. The downstream terminals have some sell-offs, which is bearish for market consumption sentiment and bargaining focus. In the macro aspect, the long-short game effect caused by domestic economic recovery stimulus measures and international geopolitical tensions continues to affect the risk aversion sentiment and related purchase and sale willingness of the metal market.

The price of 65% black tungsten concentrate has been adjusted to about $21,571.4/ton. Considering the valuation of strategic resources and safe-haven assets, the downward space is limited.

The price of ammonium paratungstate (APT) is deadlocked at about $363.2/mtu, and the pressure of cost inversion is obvious, but it has not yet reached the psychological position of buyers to buy at a low price, and the market is not smooth.

The price of tungsten powder is consolidating at around $48,142.9/ton, and the price of tungsten carbide powder is consolidating at around $47,428.6/ton. The market cost and supply and demand game, the merchants are hesitant and operate prudently.

The price of 70 ferrotungsten is deadlocked at around $32,285.7/ton. The price of tungsten raw materials is decreasing, and downstream consumption is cautious on demand. The market trade atmosphere is deadlocked and the wait-and-see news is updated.

In the scrap tungsten market, the intensity of the market supply and demand game has increased, the quotation is divergent, the enthusiasm of the consumption end such as alloys is not good, the market is bargaining on demand, and the transaction volume is scarce.

According to the data of the National Bureau of Statistics, in May, the national consumer price index (CPI) rose by 0.3% year-on-year, the same as the previous month; it fell by 0.1% month-on-month, slightly less than the average decline of 0.2% in the same period in the past ten years. Among them, non-food prices turned from a 0.3% increase in the previous month to a 0.2% decrease, which affected the CPI by about 0.14 percentage points month-on-month. The core CPI excluding food and energy prices rose by 0.6% year-on-year.

The national industrial producer price index (PPI) fell by 1.4% year-on-year, 1.1 percentage points narrower than the previous month, and has been negative for 20 consecutive months; it rose by 0.2% month-on-month, reversing the downward trend of the previous 6 months, mainly due to factors such as the upward price of some international bulk commodities and the improvement of supply and demand in the domestic industrial products market.

Prices of tungsten products on June 14, 2024

Picture of black tungsten wire 

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