China Tungsten Prices Were Weak in the Middle of June 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices were weak in the week ended on Friday, June 14, 2024, and the stalemate in the spot market reflected the complex market sentiment.

From the perspective of supply or demand alone, the increase in resource concentration and total mining volume control, the moderate economic recovery and consumption stimulus measures, etc., support the industry's optimistic view on the future market; however, from the perspective of overall fundamentals and market liquidity, the current tungsten industry chain supply and demand game is obvious, high cost and low demand pressure continues, coupled with the complexity and instability of the international trade environment, the overall market purchasing atmosphere is not ideal. Since June, the price of tungsten raw materials has turned from a high level, causing traders to make concessions and buyers to sell at a loss, which has put pressure on the spot market.

65% black tungsten concentrate was adjusted to about $21,571.4/ton, with limited transaction volume and obvious resistance to bottoming out. According to statistics from China Tungsten Online, as of June 14, 2024, the price of 65% black tungsten concentrate has fallen by about 3.8% from its high, an increase of about 22.8% compared with the beginning of the year.

The price of ammonium paratungstate (APT) is weak and stable at around $361.6/mtu, down 3.9% from the high record last month and up 23.1% from the beginning of the year. The current market sentiment is affected by many factors such as environmental protection, raw materials, demand, and prices, and the market is in a stalemate and pressure cycle.

The price of tungsten powder is around $48.0/kg, down about 3.2% from the high and up 23.1% from the beginning of the year; the price of tungsten carbide powder is around $47.3/kg, down about 2.7% from the high and up 23.5% from the beginning of the year. Merchants are watching the supply and demand game and the directional guidance brought by the long-term quotation of tungsten enterprises in the second half of the month.

The price of 70 ferro tungsten is stagnant around $32,285.7/ton, with a decrease of about 2.6% in this round and an increase of 28.4% from the beginning of the year. There are many external uncertainties in the market, and the demand follow-up momentum is limited, and the market is sorted out according to the market.

Prices of tungsten products on June 17, 2024

Picture of ferro tungsten 

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