Tungsten Market Update: Prices Show Slight Uptrend Amid Cautious Trading

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices showed a slight upward trend on August 12, 2024. The supply side appeared somewhat strong, while demand-side pressures have not significantly improved. Traders continue to take a cautious approach, leading to moderate trading activity.

The price of 65% black tungsten concentrate has adjusted to approximately $19,142.9/ton. Although market activity is not particularly robust, suppliers are holding back in hopes of higher prices. In the short term, tungsten raw material prices are expected to remain within an upward trend, though the extent of the increase will be limited by demand.

Ammonium paratungstate (APT) prices have stabilized around $28,428.6/ton. Downstream buyers are adopting flexible procurement strategies, with a low enthusiasm for proactive stocking. Market circulation is primarily focused on long-term contracts, with the overall market trend following raw material price increases, though actual transactions have yet to be fully realized.

Tungsten powder prices remain steady at $42,857.1/ton, while tungsten carbide powder prices hover around $42,142.9/ton. Consumption sentiment in application fields such as hard alloys is limited, with risk-averse behavior dominating the market. Price negotiations remain cautious and demand-driven.

The price of 70% ferro-tungsten is holding firm at around $2029,571.4/ton. Market direction remains uncertain, with ongoing supply and demand struggles on a fundamental level, and mixed signals on a macroeconomic level. Cautious and hesitant trading sentiments dominate, with recent slight increases in cost support.

In the waste tungsten market, offers have remained relatively firm, supported by stable tungsten raw material prices. However, the alloy sector's buying initiative remains weak, with consumers maintaining a cautious stance. The tungsten industry continues to see ongoing struggles between upstream and downstream sectors, leaving room for disagreement on price adjustments.

According to data from the National Bureau of Statistics, in July, China's Consumer Price Index (CPI) rose 0.5% month-on-month, reversing a 0.2% decline from the previous month. Year-on-year, CPI increased by 0.5%, with the growth rate expanding by 0.3 percentage points from the previous month. The core CPI, excluding food and energy, rose 0.3% month-on-month, while the year-on-year growth slowed by 0.2 percentage points to a recent low of 0.4%. The Producer Price Index (PPI) fell by 0.2% month-on-month and 0.8% year-on-year, with the decline rate remaining the same as the previous month.

Prices of tungsten products on August 13, 2024

Picture of tungsten carbide bar

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