China Tungsten Prices Remained Steady in Early Week

Details: Category: Tungsten's News; Published on Tuesday, 27 August 2024 16:45

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten prices remained steady.

The raw material segment maintained a firm stance with a reluctance to sell, while the demand side continued to be influenced by complex external factors, leading to a short-term market focus on strength with limited transaction growth. The overall balance between supply and demand remains stable.

The price of 65% black tungsten concentrate stabilized around $19,857.1/ton, with some attempts to reach the $20,000.0/ton mark, though high-level transactions faced resistance. The increase in tungsten mining quotas has alleviated some concerns about tight supply, but the impact of this change has not been significant in the short term. Miners continue to hold the view that supply remains tight and prices firm.

The price of ammonium paratungstate (APT) is holding steady at around $330.9/mtu. Strong cost factors and reduced inventory levels support firm supplier quotations, while market buying remains cautious, resulting in limited overall transaction volume.

Prices for tungsten powder and tungsten carbide powder are stable at approximately $44.0/kg and $43.3/kg, respectively. The market is characterized by a tug-of-war between positive signals from the raw material side and cautious attitudes from the consumption side, leading to a short-term wait-and-see approach to transactions.

The price of 70% ferrotungsten remains at around $29,857.1/ton, with strong cost support and an upward shift in export focus. Market sentiment is relatively stable, but transactions are yet to catch up.

In the scrap tungsten market, prices are also firming up, with the underlying fundamentals providing relatively strong support. Sellers are holding onto their stock in anticipation of price increases, while buyers continue to make purchases based on immediate needs. However, due to weaker demand, the overall market trend remains to be seen.

Prices of tungsten products on August 27, 2024

China tungsten price image