Tungsten Powder Prices Are Stuck at Around $46,857.1/ton at the end of June 2024

Analysis of latest tungsten market from Chinatungsten Online

The price of tungsten continues to decline steadily. In the short term, the market supply and demand margins are relatively loose. Coupled with the drag on sentiment, overall trade conditions are under pressure and consolidation.

The off-season atmosphere persists, and there are some differences in confidence among industry participants regarding the market outlook. At the end of the month, prices are weak and stable, with a wait-and-see attitude towards the performance of institutions and tungsten enterprises' long-term contract prices after the new month begins.

Notably, many regions in southern China have recently been hit by heavy rains. Jiangxi, Hunan, Anhui, and other areas have continuously issued heavy rain warnings. This year's floods could be more extensive and destructive than in previous years. According to Chinatungsten Online, the heavy rains and sudden situations in various places could bring uncertainty to the tungsten concentrate market. This could challenge the raw material inventory cycles of smelting enterprises, thereby providing some support for market prices.

The price of 65% black tungsten concentrate is testing below the $20,714.3/ton level. The total market mining volume is limited, with bottom support still present. However, influenced by the profit-taking mindset of sellers and the weak consumption sentiment of buyers, the overall market negotiation focus is under pressure.

Ammonium paratungstate (APT) prices have adjusted to around $30,714.3/ton. The market resource volume is relatively loose, and downstream users are maintaining a low purchasing sentiment. In the short term, there is a lack of positive information, and overall market trading sentiment is weak.

Tungsten powder prices are stuck at around $46,857.1/ton, and tungsten carbide powder prices are at around $46,285.7/ton. The market trading situation is not ideal, with slightly sluggish buying and selling sentiment at the alloy end. The industry fundamentals provide limited support, and the transaction focus has somewhat shifted downward.

The price of 70% ferrotungsten is consolidating around $31,714.3/ton. The overall market sentiment is cautious and mainly observant. The off-season buying enthusiasm of steel mills is cooling, and the loosening atmosphere upstream in the industrial chain is affecting market trends, leading to weak and stable consolidation.

The price of scrap tungsten rods is holding steadily. Due to recent inventory consumption, holders are less willing to sell at low prices, while buyers are still negotiating prices based on demand. The market supply and demand remain in a stalemate, with trade conditions stagnant.

Prices of tungsten products on June 27, 2024

Picture of tungsten rod 

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