Chinese Tungsten Price Has Been in the Downward Trend Since June 2024

Analysis of latest tungsten market from Chinatungsten Online

The overall Chinese tungsten price is in the downward trend in the week ended on Friday, June 21, 2024, mainly due to the 3%-5% drop in the long-term contract prices of tungsten raw materials of large tungsten enterprises in the second half of the month, which has weakened market sentiment, poor business buying and selling initiative, and continued game of supply and demand. 

According to statistics from Chinatungsten Online, as of June 21, 2024, the price of 65% black tungsten concentrate is $20,857.1/ton, and the price of 65% white tungsten concentrate is $20,714.3/ton. The price of tungsten ore has fallen by 7% from its historical high, and there is still a nearly 20% increase compared with the quotation at the beginning of the year. The view that the mine is in short supply and high price is maintained for a long time, and the short-term profit-taking sentiment is dominant, and the market is relatively under pressure.

The latest price of ammonium paratungstate (APT) is $350.3/mtu, which has fallen by about 7% from the high point, and the price has increased by about 19% compared with the beginning of the year. Smelters maintain domestic sales or long-term contract orders, and the cost and demand pressures continue to compete, and the short-term market is weak.

The latest tungsten powder price is $47.1/kg, down about 5% from the high point, and the price of tungsten carbide powder is $46.4/kg, down 4.4% in this round, and the powder price has increased by about 21% compared with the beginning of the year. The tepid state of the alloy end has suppressed the confidence of the powder market, and the market trading negotiations are deadlocked on demand.

The price of 70% ferro tungsten is around $32,000.0/ton, down about 3.5% in one month, and up about 27.3% this year. The market news is limited, and buyers are cautiously preparing stocks on demand and waiting for adjustments on the tungsten raw material end.

Prices of tungsten products on June 24, 2024

Picture of tungsten alloy parts 

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