Tungsten Raw Materials Prices Have Essentially Reverted to Their Levels Before Price Increase in May

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained in a downward trend in the week ended on Friday, July 5, 2024.

 The market demand was relatively sluggish due to the hot and rainy season. Although suppliers were inclined to hold prices, most preferred to sell off and realize profits. The weak consumption reality dampened market sentiment, leading to pressure on overall market trends and average sales volumes.

According to statistics from Chinatungsten Online, as of July 5, 2024, the prices of tungsten raw materials have essentially reverted to their levels before the price increase in May.

The price of 65% black tungsten concentrate has fallen below $20,000.0/ton. While recent high temperatures and heavy rainfall events have impacted some supply, the overall weak market demand continues to dominate. As of July 5, 2024, the price of tungsten concentrate has decreased by approximately 11.5% from its peak earlier this year, still showing a 13% increase compared to the beginning of the year.

The price of ammonium paratungstate (APT) has adjusted to around $335.8/mtu, with market transactions under pressure and a clearly weak short-term sentiment. As of July 5, 2024, APT prices have retreated 10.7% from their peak earlier this year but still show a 14.3% increase within the year.

The price of tungsten powder is steady at around $45.0/kg, down 9.2% from its peak, with a 15.4% increase within the year. The price of tungsten carbide powder is steady at around $44.4/kg, down 8.5% from its peak, with a 16% increase within the year. The demand for restocking from the alloy end is not apparent, and confidence in raw material prices is lacking.

The price of 70% ferrotungsten has adjusted to around $31,000.0/ton, down 6.9% from its peak, with a 22.7% increase within the year. The steel market's off-season characteristics are evident, weakening the support for tungsten raw material prices. Traders are under pressure to trade as needed.

Prices of tungsten products on July 8, 2024

Picture of tungsten granule 

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