Tungsten Powder and Tungsten Carbide Prices Remained Stable on July 1, 2024

Analysis of latest tungsten market from Chinatungsten Online

On Monday, China tungsten prices remained stable with a wait-and-see attitude.

 The overall market trading atmosphere was weak, with producers and traders in a tug-of-war over selling and bottoming out, while buyers were cautious in their procurement. The overall market negotiation atmosphere was stalemated, with attention focused on the new round of guidance prices from institutions and tungsten enterprises.

The price of 65% black tungsten concentrate remained around $20,285.7/ton. The recent rainy season in the south has put some pressure on mining production, but so far, the impact on shipments has been limited. Downstream demand remained relatively weak, suppressing the overall market focus.

The price of ammonium paratungstate (APT) held steady around $342.2/mtu. Market buying and selling activity was not high, with cautious and risk-averse sentiment dominating. Overall market confidence was lacking recently, and actual transaction negotiations were weakly stable.

Tungsten powder prices remained around $46,142.9/ton, while tungsten carbide powder prices fell below $45,714.3/ton. Downstream alloy companies reported weak demand signals, and low-cost inventory accumulated earlier is actively participating in market bidding, leading to more price negotiations and forcing some cost concessions.

In terms of news, the Ministry of Natural Resources and the Meteorological Administration recently jointly issued a geological disaster weather risk warning. From 20:00 on June 30 to 20:00 on July 1, parts of southern Anhui, northern Jiangxi, southeastern Hubei, and western Hunan are at a higher risk of geological disasters (yellow warning), with localized high risk in western Hunan (orange warning).

The World Meteorological Organization stated that since the beginning of this year, extreme weather events such as heavy rain, floods, heatwaves, and droughts have been frequent in many parts of the world, causing significant economic losses. These events have become the new normal, with climate change caused by greenhouse gas emissions being the main reason.

Prices of tungsten products on July 2, 2024

Picture of tungsten plate 

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