Tungsten Powder and Tungsten Carbide Powder Prices Rises at the end of August 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have increased without a corresponding rise in trading volume, reflecting poor market liquidity. 

The upward trend is driven by sellers' optimistic outlook and their reluctance to sell, while buyers remain hesitant due to high prices and concerns about relatively weak demand, raising questions about the sustainability of the price trend. 

Overall, the tungsten market is seeing an upward shift in price levels, but this is not strongly supported by actual transaction volumes, making it important to monitor changes in market sentiment and new developments.

The price of 65% black tungsten concentrate is reported at $20,142.9/ton, with suppliers generally holding a bullish view on prices due to limited resources and cautious purchasing, resulting in low actual trading activity.

Ammonium paratungstate (APT) prices are approaching the $339.0/mtu mark, supported by strong cost pressures and the upcoming traditional peak season, which is fostering a more aggressive price increase sentiment. However, high-priced transactions are still awaiting volume support.

Tungsten powder prices have risen to $44.4/kg, with tungsten carbide powder priced around $43.7/kg. The strong cost base is evident, but there is a divergence in expectations between buyers and sellers regarding future demand, leading to cautious follow-up in the price increase trend.

The price of 70% ferrotungsten is stabilizing around $30,000.0/ton, benefiting from strong tungsten raw material prices, with the market's fundamental outlook relatively positive. On a macro level, attention is focused on the implementation of monetary easing measures and the uncertainties of complex geopolitical environments.

The scrap tungsten market is following the broader market trend, with prices rising amidst tight supply due to seller reluctance to sell. However, overall demand and purchasing enthusiasm remain average, with cautious participation from traders.

On the macroeconomic front, according to data from the National Bureau of Statistics, from January to July, the total profit of industrial enterprises above designated size nationwide was 4.09917 trillion CNY, an increase of 3.6% year-on-year. The total operating revenue was 75.93 trillion CNY, an increase of 2.9% year-on-year. As of the end of July, the asset-liability ratio of industrial enterprises above designated size was 57.6%, a year-on-year decrease of 0.1 percentage points.

Prices of tungsten products on August 29, 2024

Picture of tungsten alloy counterweights 

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