China Tungsten Price Remained Stable in Early August 2024

Details: Category: Tungsten's News; Published on Tuesday, 13 August 2024 09:07

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable overall in the week ended on Friday, August 9, 2024.

The predicted average prices released by various institutions and the long-term contract prices from major tungsten enterprises did not reflect significant increases, indicating the ongoing tug-of-war between a strong supply side and weak demand. This has led traders to adopt a cautious wait-and-see approach, with overall spot trading activity remaining lukewarm.

The price of 65% black tungsten concentrate remained firm at around $19,000.0/ton, with a tightening supply of market resources leading to slightly higher price offers. However, downstream demand remains limited, and without clear positive signals, actual market negotiations remain at a standstill.

The price of ammonium paratungstate (APT) held steady at around $319.6/mtu, with smelters continuing to display a strong risk-averse sentiment. Downstream customers are purchasing cautiously on an as-needed basis, and market trade is primarily focused on long-term contract orders, keeping the overall market steady and in a wait-and-see mode.

Tungsten powder prices are stuck around the $42,857.1/ton mark, with tungsten carbide powder prices consolidating around $42, 142.9/ton. There is a continued standoff between price increase expectations at the upstream end and cost reduction efforts at the downstream end, leading to moderate trading activity and a temporary range-bound market.

The price of 70% ferrotungsten remained stable at around $29,571.4/ton. The stable situation on the tungsten raw material side and the steady demand from steel mills have kept market sentiment relatively calm, with a prevailing mood of cautious observation awaiting new directional updates.

In the scrap tungsten market, opinions are divided. Some holders are raising their offers based on the firm trend in tungsten raw materials, while some traders are slightly reducing prices to move inventory due to weak support from the consumer side. The overall sentiment is mixed, leading to cautious and stagnant negotiations.

Prices of tungsten products on August 12, 2024

China tungsten price image