China Tungsten Prices Are Continuing their Downward Trend in Early July 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are continuing their downward trend. 

On the supply side, operational rates have remained relatively unchanged; however, some traders are offloading resources at a discount to realize profits. On the demand side, downstream consumption has not met expectations. Recent hot and rainy weather has further dampened consumer sentiment, suppressing overall market trends. From a macro perspective, the market is witnessing a tug-of-war between bulls and bears. Concerns about the global economy and geopolitical risks are causing supply chain worries and demand-side resistance, leading to cautious and risk-averse market behavior.

The price of 65% black tungsten concentrate is stagnating at around $20,000.0/ton, with actual negotiations often occurring below this level. Market demand remains limited, and buyers are still probing for lower prices, putting pressure on spot transaction volumes and prices.

Ammonium paratungstate (APT) prices have fallen below $339.0/mtu. Market demand is unlikely to change significantly in the short term, and a bearish atmosphere dominates, causing the overall trading focus to continue its downward slide.

Tungsten powder prices have adjusted to $45,285.7/ton, and tungsten carbide powder is stabilizing at $44,714.3/ton. The market demand situation is not expected to improve in the short term, and alloy companies are bearish on raw material prices in the near term, leading to continued weak market adjustments.

The price of 70% ferro tungsten remains around $31,000.0/ton. The downward trend in raw material prices persists, and the demand outlook for the steel market has weakened, resulting in pressured market confidence.

The scrap tungsten market is also experiencing weak stability. The decline in raw material prices and relatively weak terminal consumption have led to cautious procurement and trading activities. Purchasers are adopting a wait-and-see approach, buying as needed, while holders are cautious in negotiating sales, leading to sluggish market transactions.

Prices of tungsten products on July 5, 2024

Picture of barium tungsten cathode

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