Tungsten Powder Prices Are Holding Steady in the Middle of August 2024

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices are currently stable, with strong support from the raw material side. 

The cost factor is clearly supporting the prices of tungsten chemical products and tungsten powders. However, downstream alloy manufacturers and end-users are resistant to the rising raw material costs, leading to weak purchasing interest among buyers. The market lacks substantial demand support, putting pressure on the sustained upward trend in prices, resulting in a stalemate in transactions.

In the tungsten concentrate market, the current resistance level is at around $19,285.7/ton. Sellers are holding onto their goods, hoping for higher prices, while downstream buyers are bargaining aggressively. The flow of market resources is hindered, leading to limited actual transaction volumes.

In the ammonium paratungstate (APT) market, reference prices remain around $322.8/mtu. Suppliers are increasingly inclined to raise prices, but downstream buyers are not actively purchasing. Trading remains cautious and demand-driven, with limited enthusiasm for production from factories.

Tungsten powder prices are holding steady at around $42,857.1/ton, while tungsten carbide powder prices are steady at around $42,142.9/ton. The demand outlook in the tungsten industry chain is not promising, and much of the current resources are concentrated in the intermediate stages, putting some pressure on powder manufacturers' operations. The market trend remains stagnant.

Prices for 70% ferrotungsten are stable at around $29,571.4/ton. The support from raw material price increases is limited, and the consumption potential of steel mills has not been fully realized. Combined with external economic volatility, merchants are adopting a cautious and stable pricing strategy, awaiting directional news. 

In the waste tungsten market, end-user purchasing power remains weak, but the slightly tight resource availability and stable prices of primary materials are supporting waste tungsten product prices. The price gap has narrowed, and traders are maintaining a cautious attitude.

On the macroeconomic side, according to data from the People's Bank of China, as of the end of July, China's broad money (M2) balance was 303.31 trillion RMB, an increase of 6.3% year-on-year; the narrow money (M1) balance was 63.23 trillion RMB, a decrease of 6.6% year-on-year; and the total social financing stock was 395.72 trillion RMB, an increase of 8.2% year-on-year. From January to July, the cumulative increase in social financing was 18.87 trillion RMB, a decrease of 3.22 trillion RMB year-on-year. Renminbi loans issued to the real economy increased by 12.38 trillion RMB, 3.27 trillion RMB less than the same period last year.

Prices of tungsten products on August 15, 2024

Picture of ferro tungsten 

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