Tungsten Concentrate Price Rose to $20,000.0/ton in the Second half of August 2024

Analysis of latest tungsten market from Chinatungsten Online

The tungsten market maintains a firm stance, with tight supply from both the mining and smelting sectors driving prices up. 

Suppliers are generally holding onto their stocks, anticipating further price increases. However, alloy sector trading remains cautious due to international geopolitical and economic concerns impacting consumer enthusiasm. As a result, tungsten market transactions are limited, with trading occurring only as needed.

Tungsten concentrate sellers are testing price levels around $20,000.0/ton. However, buyer acceptance remains low, leading to a sluggish overall transaction situation. The market continues to experience a state of “priced but not traded.”

Tungsten Mining Quotas:

The annual tungsten mining quota for 2024 has been set at 114,000 tons, an increase of 3,000 tons compared to 2023. The first batch of quotas for 2024, issued earlier this year, was 62,000 tons, which is 1,000 tons less than last year. This indicates an additional 4,000 tons of quota for the second half of the year.

Manufacturers are adjusting APT prices to around $330.9/mtu. There are few spot transactions, with the industry primarily focused on market dynamics and cautious observation. The tight supply of raw materials, low operating rates, and the reluctance of sellers to release stock are supporting the price stability.

Tungsten powder prices are steady at around $44.0/kg, while tungsten carbide powder remains stable at about $43.3/kg. Despite active reporting from sellers due to cost pressures, demand constraints are affecting market performance.

Tungsten Iron:

The price for 70% ferro tungsten remains steady around $29,714.3/ton. Recent cost support from raw materials is solid, and steel mills are showing moderate interest in bidding. The market shows stable confidence, with attention focused on macroeconomic instability.

Tungsten bar prices have adjusted to around $30.4/kg. Market sentiment among suppliers is influenced by tungsten raw material trends, but alloy sector consumption has not shown significant growth, resulting in limited transaction volumes and upward shifts in market pricing focus.

Overall, the tungsten market is experiencing price firmness due to tight supply and cautious trading. The industry's focus is on navigating the impacts of global economic and geopolitical uncertainties.

Prices of tungsten products on August 23, 2024

Picture of ferro tungsten 

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