Tungsten Concentrate Prices Began to Stabilize After a Drop of over 17%

Details: Category: Tungsten's News; Published on Wednesday, 31 July 2024 16:09

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices in the Chinese market have slightly risen, with a relatively tight supply and a market-supporting sentiment spreading to the mid-to-downstream segments of the industry chain.

The market atmosphere has shifted from a downturn to a bottoming-out rebound, with increased purchasing enthusiasm among traders. However, the real demand-driving force remains limited, and most industry players remain cautious about the future, resulting in limited trading volumes as they observe the subtle adjustments in the supply-demand relationship.

After experiencing a drop of over 17% in the past two months, tungsten concentrate prices have begun to stabilize, with a slight upward correction. High-grade resources have increased to around $18,714.3/ton. This change reflects a gradual restoration of market confidence and supports the stabilization of downstream tungsten product prices. However, a genuine market recovery still depends on the release of demand momentum.

Ammonium paratungstate (APT) prices have increased to around $316.4/mtu, driven mainly by higher upstream raw material costs and a shift in market sentiment. The price adjustment of this key intermediate smelting product benefits the overall tungsten industry chain. Nevertheless, overall market consumption expectations remain unoptimistic, with trade activity largely characterized by a cautious stalemate.

Tungsten powder prices are steady at around $42.7/kg, and tungsten carbide powder prices are steady at around $42.0/kg. The market remains a battleground for supply and demand. The changing direction of raw material prices adds new pressure to market trade, making it more difficult to procure low-cost raw materials. Alloy consumption confidence needs to be restored, with a slight increase in inquiries but limited growth in transactions.

The price of 70% ferrotungsten is stable at around $29,571.4/ton. Raw material cost support provides some uplift, with downstream consumption driven by essential needs. However, external uncertainties persist, and the overall market sentiment is one of cautious observation, waiting for clearer signals to guide decisions.

In the scrap tungsten market, prices have slightly increased in line with the market trend. Market sentiment has cyclically warmed, with reduced willingness from suppliers to sell at a discount. Buyers remain cautious, resulting in limited actual transactions being realized.

Price Trend of Tungsten Products in China from January to July 2024