Stalemate in the Tungsten Market: Supply Constraints and Weak Demand Drive Price Dynamics

Analysis of latest tungsten market from Chinatungsten Online

The tungsten market is experiencing a stalemate with an upward trend. On the supply side, the tight availability of mineral resources and limited operating rates at smelters are driving strong price support, while on the demand side, restocking sentiment remains weak. Market negotiations between buyers and sellers are ongoing, but overall transaction volumes have not significantly increased.

The price of 65% black tungsten concentrate has adjusted to $19,571.4/ton. Recent market optimism has led to increased reluctance to sell, but downstream end-user restocking has not significantly increased. The market remains in a state where prices are high, but transactions are scarce.

APT prices have followed the upward trend to around $327.7/mtu. The tight supply of raw materials and rising costs are providing some support to the market. While there hasn’t been a significant recovery in demand, traders are increasingly inclined to test higher prices, although the extent of this increase will depend on the results of negotiations across the supply chain.

Tungsten powder prices have adjusted to around $43,571.4/ton, with tungsten carbide powder prices reaching the $42,857.1/ton mark. Recently, there has been an increase in price offers following the upward trend, but order fulfillment has been less than ideal. The fundamental drivers for alloy products remain limited, and demand is relatively weak, suppressing market transaction activity.

The price of 70% ferrotungsten has climbed to $29,714.3/ton, primarily due to bullish sentiment in the raw tungsten material market. However, consumer activity remains limited, with off-season effects and macroeconomic instability holding back the market. In the short term, most traders are adopting a wait-and-see approach.

The price of scrap tungsten has also seen a recent uptick, but there is a cautious divergence in expectations between buyers and sellers. While suppliers are enthusiastic about higher prices, buyers are approaching with caution, and market confidence in restocking has yet to be restored, resulting in limited actual transactions.

Prices of tungsten products on August 21, 2024

Picture of tungsten carbide powder 

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