China Tungsten Price Is in the Weak Adjustment on Deadlocked Market

Details: Category: Tungsten's News; Published on Wednesday, 26 June 2024 17:04

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price is still in the weak adjustment with deadlocked market costs and demand, and low trading activity in the market.

On the supply side, due to the relatively sluggish atmosphere on the demand side, the overall operating rate of smelters has increased limitedly. The market's reluctance to sell resources has increased the looseness of supply. Traders' confidence is under pressure, and external quotations are loosened and adjusted. Relatively speaking, the total amount of resources on the mine side is relatively stable. While the recent high temperature and rainy weather has suppressed consumption, it has also increased supply chain risks. With the addition of strategic resource attribute buffs, the bottom area of tungsten raw materials is still supported, and the decline is cautious.

On the demand side, affected by the international economic shocks and geopolitical conflicts, consumer spending sentiment is low, coupled with the influence of the "not buying low" mentality, the recent market off-season atmosphere is strong, and downstream end users are less motivated to purchase and stock up. The demand side has a bearish impact on the market performance.

The latest price of 65% wolframite concentrate has adjusted to $20,714.3/ton. Market confidence is divided, and transactions revolve around rigid demand; the latest price of ammonium paratungstate (APT) is consolidating at around $348.7/mtu. The supply and demand coordination is not high, and long orders are the main transactions; the price of tungsten powder has fallen below $47,142.9/ton, and the price of tungsten carbide powder has remained at around $46,428.6/ton. Both cost and demand support have loosened, and the market is under pressure to consolidate.

Prices of tungsten products on June 26, 2024

China tungsten price image