Stagnant Tungsten Market: Weak Demand and Stable Prices Persist

Details: Category: Tungsten's News; Published on Thursday, 04 July 2024 17:00

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices remain in a weak and stable cycle, with no improvement in the market's stagnant atmosphere.

Overall demand is sluggish, suppressing market confidence in negotiations. Traders are passively selling at low prices, and the short-term fundamentals are relatively weak. There is no new macro-level information, and the market is awaiting the early-month guidance prices from institutions and large tungsten enterprises.

The price of 65% black tungsten concentrate remains around $20,142.9/ton. Demand pressure is dragging down the overall market focus, while supply levels from holders remain stable. There is cautious low-volume trading of strategic resources, with attention to the impact of climate factors such as "southern floods and northern droughts."

The price of ammonium paratungstate (APT) remains around $339.0/mtu. Market fundamentals are highlighted by contradictions, and trading pace is slow. Long-term contracts are cautiously traded, with the mainstream price focus being weak and stable.

The price of tungsten powder has weakened to below $45,714.3/ton, while the price of tungsten carbide powder remains around $45,000.0/ton. The market atmosphere is pressured by a combination of off-season and bearish sentiment, affecting overall market focus and trading sentiment.

The price of 70% ferro tungsten remains around $31,142.9/ton. Recently, steel mill profits have been under pressure, reducing proactive consumption. The tungsten raw material market continues to weaken, with fundamental market influences leading to overall weak stability.

The price of scrap tungsten rods remains around $28.6/kg. The buying enthusiasm from the alloy sector is low, and there is a strong risk-averse sentiment in the scrap tungsten market. Overall liquidity is poor, and there are varying quotes.

Prices of tungsten products on July 4, 2024

China tungsten price image