China Tungsten Prices Show Continuous Downward Trend in the Middle of July 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have continued to decline in the week ended on Friday, July 19, 2024, with the price increases since mid-April almost completely reversed. Market consumption sentiment remains difficult to improve, and the trend is still in a bottoming phase, awaiting a shift in fundamental signals.

65% Black Tungsten Concentrate: The price is holding steady around $18,714.3/ton, down 16.6% from its historical peak, with a year-to-date increase of 6.5%. Market activity for lower-priced transactions is gradually declining. Downstream users have limited proactive purchasing, and market negotiations remain cautious, with attention focused on the long-term contract prices from two major tungsten enterprises in Jiangxi.

Ammonium Paratungstate (APT): The price has dropped to around $28,000.0/ton, with a total decline of 15.9% during this round, and a year-to-date increase of 7.7%. Smelters are under significant operational pressure, and the bargaining situation between upstream and downstream of the industrial chain is becoming increasingly stalemated, with spot orders being rare.

Tungsten Powder: The price is holding at around $43,571.4/ton, down 12.1% from its peak, with a year-to-date increase of 11.7%. The price of tungsten carbide powder is holding at around $42,857.1/ton, down 11.8%, with a year-to-date increase of 11.9%. The consumption market atmosphere is poor, with buyers still seeking lower prices. Cost support has not yet stabilized, and the market is overall transacting based on demand, putting pressure on the market trend.

70% Ferro Tungsten: The price is consolidating around $29,571.4/ton, having declined 10.8%, with a year-to-date increase of 17.6%. Recently, end-market consumption enthusiasm has been limited, compounded by the ongoing softening of tungsten raw material prices, resulting in a subdued atmosphere in the ferro tungsten market.

Prices of tungsten products on July 22, 2024

Picture of barium tungsten cathode 

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