Ganzhou Tungsten Association Declined its Average Tungsten Forecast Prices for August 2024

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price is running steadily, and the Chinese market maintains a strong supply and weak demand trend. 

A new round of guidance quotes from institutions and large tungsten enterprises have been released one after another, implementing the current market bottoming atmosphere. However, the incentive space for the market is limited, and the negotiation sentiment between buyers and sellers remains cautious and deadlocked. There has been no significant improvement in transaction volume during the off-season consumption cycle.

According to Chinatungsten Online, the average tungsten forecast prices of domestic tungsten market by Ganzhou Tungsten Association (GTA) in August 2024 is $18,571.4/ton for 55% black tungsten concentrate, a decrease of $642.9/ton compared to July, a decrease of 3.3%; Ammonium paratungstate was $318.0/mtu, a decrease of $13.7/mtu compared to July, a decrease of 4.1%; Medium grained tungsten powder is priced at $43.6/kg, a decrease of $2.1/kg or 4.7% compared to June's quotation.

The price of 65% black tungsten concentrate is tentatively approaching $19,000.0/ton, and there is a lot of sentiment among the mining end to hold on to goods and hope for an increase. Downstream terminal demand remains limited for essential purchases, and market trading performance remains flat.

The price of ammonium paratungstate (APT) is stuck at around $319.6/mtu, and the market sentiment has rebounded slightly. However, the fundamentals are still dominated by the game, and the market exploration space is limited.

The price of tungsten powder is hovering around $42,857.1/ton, while the price of tungsten carbide powder is consolidating at around $42,142.9/ton. It is difficult for alloy and its backend enterprises to access high priced resources, and the release of spot orders is limited. The powder market transactions are still deadlocked.

The price of 70% ferro tungsten is stuck at around $29,571.4/ton, with slightly stronger support from the supply side. The off-season consumer sentiment on the demand side is still average, and there is still significant uncertainty in macro factors. Market feedback follows the market trend.

The price of waste tungsten is temporarily stable, and the rebound sentiment of tungsten raw materials has driven the intention of holders to support the market. However, there is still pressure on back-end consumption, and the overall shipping pace of the market is still relatively slow, with a strong wait-and-see sentiment.

Prices of tungsten products on August 8, 2024

Picture of tungsten hexachloride

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