China Tungsten Prices Are Steadily Increasing at the Beginning of August 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are steadily increasing, supported by tight supply and high prices from the tungsten ore side. 

However, there are few highlights on the demand side. Intermediate smelters are operating cautiously and purchasing as needed. Inquiry activity has slightly increased during the bottoming-out period, but market negotiations remain cautious as participants await the new round of institutional average price forecasts and long-term contract prices from tungsten enterprises at the beginning of the month.

The price of 65% black tungsten concentrate has adjusted to around $18,857.1/ton. Miners have a strong willingness to hold prices, as the previous downturn has depleted low-priced resources in the market. Extreme weather events during this sensitive period further impact supply and market sentiment, leading to increased reluctance to sell and higher price expectations in the short term.

The price of ammonium paratungstate (APT) has followed the upward trend to around $318.0/mtu. While short-term cost support has strengthened, the fundamentals still need further improvement. Market structure improvement is limited, and transaction status remains stagnant, but the overall trend is stable and firm.

Tungsten powder prices have stabilized around $42,857.1/ton, and tungsten carbide powder prices are steady at around $42,142.9/ton. Recently, raw material prices have had a significant impact, but the end-user acceptance of higher prices is low, resulting in slow market sentiment and limited resource circulation.

The price of 70% ferro-tungsten remains flat at around $29,571.4/ton. The rising costs in the tungsten industry chain have slightly improved market sentiment, but the complex external environment and supply-demand dynamics mean that speculative demand from merchants is low, leading to a predominantly cautious market sentiment.

In the scrap tungsten market, the tightening of tungsten ore resources and rising prices have shifted the overall focus of the tungsten industry chain upward. This has increased consumer interest in secondary resources, and sellers are less willing to make price concessions, with some price offers trending upwards accordingly.

Prices of tungsten products on August 2, 2024

Picture of tungsten filaments 

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