China Tungsten Prices Remain Firm Amid Tight Supply and Limited Transactions

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have recently been in a firm range, primarily supported by tight supply at the mining end and a roughly 3% mid-month increase in long-term contract prices from major tungsten enterprises.

This has led to increased bullish sentiment in the market and a shift in the focus of price negotiations. However, due to passive inquiries from downstream customers, actual market transactions remain limited.

In the tungsten concentrate market, low-priced supplies have decreased, and downstream users are following up as needed. Market transactions are limited, with negotiation levels holding firm, and high-grade offers adjusting to approximately $19,714.3/ton. 

In the ammonium paratungstate (APT) market, cost support is evident, and spot inquiries are limited. Short-term prices are following the trend of raw material price changes, with overall quotes remaining firm and testing the $329.3/mtu mark. 

In the tungsten powder market, sellers have had to adjust offer prices under cost pressure. Tungsten powder is quoted at $43.9/kg, while tungsten carbide powder is priced at $43.1/kg. However, downstream transaction feedback is limited. The export volume of tungsten powder and tungsten carbide has significantly decreased year-on-year in the first seven months of this year, dampening the enthusiasm of buyers. The market is cautious, with short-term transactions occurring at current market prices.

In the ferrotungsten market, recent strong cost drivers have kept the market trend steady. However, industry participants remain cautious about the macroeconomic environment and future demand expectations. Actual transactions are moderate, with 70% ferrotungsten prices stabilizing around $29,714.3/ton. 

In the waste tungsten market, suppliers continue to hold firm, primarily avoiding low-priced sales. Downstream buyers maintain a just-in-time procurement pace, with limited enthusiasm for high-priced purchases. Recently, the overall focus of transactions has shifted upward, as market participants observe the sustainability of raw material support and the recovery of demand-side momentum.

Prices of tungsten products on August 22, 2024

Picture of tungsten ore 

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