China Tungsten Market Stabilized Amid Limited Supply and Stagnant Demand

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market has gradually entered a phase of stabilization, with limited supply-side variables and traders' resistance to further price drops. Additionally, the typhoon weather in the south has somewhat restrained the release of low-priced resources. However, there has been no substantial improvement in market demand, and the overall off-season atmosphere remains apparent.

Overall, the tungsten market fundamentals are still under pressure. However, the shift in trader sentiment has allowed tungsten raw material prices to temporarily halt their decline before reaching the April rebound point. There is still some price increase within the year for tungsten products, with the entire tungsten industry chain awaiting directional news amid a stalemate.

The price of 65% black tungsten concentrate remains steady at around $18,571.4/ton, down 17.2% from its historical high and up 5.7% within the year. There is a low willingness to offer discounts on market resources, with an increased sentiment of market stabilization and bottoming out, awaiting downstream acceptance. The recent arrival of Typhoon "Kemma" has slightly impacted mining production in Fujian and Jiangxi. However, traders report that the tightening of tungsten ore supply is more due to declining resource grades and increased concentration, with the demand potential of key minerals yet to be further released.

Ammonium paratungstate (APT) prices are consolidating at around $314.8/mtu, with a decline of 17.3% in this round and an increase of 6.6% within the year. Market operating loads are temporarily stable on demand, with a growing sentiment for market rebound among traders. Buyers maintain a just-in-time procurement strategy, and market confidence is still divided, awaiting effective transaction confirmation.

Tungsten powder prices have adjusted to around $42.7/kg, with a decline of 13.8% in this round and an increase of 9.5% within the year. Tungsten carbide powder prices are consolidating around $42.0/kg, with a decline of 13.5% in this round and an increase of 9.7% within the year. The global economic uncertainty has notably affected the supply and demand pressure on the alloy end, inhibiting the enthusiasm of buyers to replenish raw materials and thereby suppressing the price center of tungsten powder products.

70% ferro-tungsten prices are consolidating around $29,571.4/ton, with a decline of 10.8% in this round and an increase of 17.6% within the year. Market participants hold cautious expectations for the future, primarily due to the complex impacts of external economic and political environments on market fundamentals. Recently, the atmosphere on the consumer side has been relatively dull, with low trading initiative within the market and price centers generally adjusting with the tungsten raw material market.

Prices of tungsten products on July 29, 2024

Picture of tungsten filaments 

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