China Tungsten Price Continues to Remain Stable in Early August 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues to remain stable, and after two months of profit adjustments and risk clearing, the market has seen an increase in capital inflows recently, and the tungsten raw material market is becoming more robust. 

At the beginning of the month, there was a divergence in the long-term quotes of tungsten enterprises, which reflected the current situation of market confidence game. There are still obstacles to the implementation of tungsten product prices to explore the market trend.

The price of 65% black tungsten concentrate is tentatively testing above $18,857.1/ton, with large enterprises implementing spot market price increases and businesses showing reluctance to sell to support the market. Transactions are yet to be confirmed.

The price of ammonium paratungstate (APT) has been consolidated at around $319.6/mtu, with some aggressive quotes approaching the $28,571.4/ton. Market confidence in quotes is divided, and the long-term quotes from Fujian tungsten enterprises have not provided effective support. The enthusiasm of buyers to receive goods is average.

The price of tungsten powder is consolidating at the $42,857.1/ton mark, while tungsten carbide powder is stuck at around $42,142.9/ton. The game situation between upstream and downstream of the industrial chain remains unchanged, and the difficulty of purchasing tungsten raw materials has increased. The consumption atmosphere on the alloy end is not good, and the market continues to follow suit and observe trading.

The price of 70% ferro tungsten is hovering around $29,571.4/ton, with a slightly stronger support atmosphere on the cost side. However, the favorable demand side is not stable, and the market maintains a cautious wait-and-see attitude, with a stagnant trading atmosphere.

The price increase of waste tungsten rod is mainly based on the change in market sentiment. Holders are reluctant to sell and support the market, while the alloy end maintains a strong demand for receiving goods. The atmosphere of on-site inquiries has slightly improved, and actual transactions are pending follow-up.

Prices of tungsten products on August 7, 2024

Picture of tungsten alloy rods

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