Tungsten Prices Continue to Decline Amidst Complex and Uncertain Consumption Environment

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices in the Chinese market are persistently falling, primarily due to the increasing complexity and uncertainty in domestic and international consumption environments. 

The purchasing willingness of downstream industries remains sluggish, leading to overall market demand failing to meet expectations. Manufacturers and traders are adopting cautious inventory reduction strategies and are still exploring bottom support. In the short term, they are waiting for the long-term contract purchase prices from leading tungsten companies and the release of June's tungsten product import and export data.

The price of 65% black tungsten concentrate remains around $18,857.1/ton. During necessary negotiations, buyers continue to apply pressure while suppliers adjust their shipments amid observation. Market resource circulation is hindered, and trading activity is not high.

Ammonium paratungstate (APT) prices have fallen below $322.8/mtu, following the long-term contract prices of leading tungsten companies. Market demand remains significantly constrained, leading to diminished trader confidence and an overall sluggish trading atmosphere.

Tungsten powder prices are steady around $43.7/kg, while tungsten carbide powder prices are consolidating around $43.0/kg. There is a lack of proactive purchasing from the consumption side, with downstream users adopting a cautious approach and purchasing as needed, resulting in a market atmosphere with considerable pressure on price negotiations.

Prices of tungsten products on July 18, 2024

Picture of tungsten plates 

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