Chinese Tungsten Market Remains Stable, with Prices Holding Firm

Analysis of latest tungsten market from Chinatungsten Online

The Chinese tungsten market remains stable, with prices holding firm. Recent market trends have been primarily driven by a strong sentiment among suppliers to hold back sales and push prices up. 

This is due to two key factors: first, a tight supply of concentrates insufficient to meet smelting capacity, compounded by expectations of stricter export controls on strategic mineral resources amid international geopolitical tensions. Second, rising costs due to declining ore grades, stricter environmental regulations, reduced economic activity, and concerns over global price stability driven by fluctuations in the U.S. dollar.

Currently, the supply and cost factors in the tungsten market provide strong support for prices, while demand remains relatively weak. The expansion of smelting capacity and hard alloy production, along with intensified industry competition and the complex international trade environment, are negatively impacting market consumption. Overall demand remains limited, and there has yet to be a significant increase in high-priced transactions.

The price of 65% black tungsten concentrate remains stable at around $20,142.9/ton, with suppliers primarily focused on maintaining prices while awaiting further downstream procurement.

Ammonium paratungstate (APT) prices are steady at approximately $339.0/mtu, with limited alignment between upstream and downstream sectors, leading to constrained smelter operations and cost-driven market firmness.

Tungsten powder and tungsten carbide powder prices have reached around $44.4/kg and $43.7/kg, driven by strong cost momentum, though consumer demand is relatively slow to follow.

The price of 70% ferro-tungsten remains stable at approximately $30,000.0/ton, with market fundamentals showing relative positivity, supported by stable price increases.

The scrap tungsten market continues to follow general market trends, with trading mainly driven by demand, while sentiments in the raw tungsten market bolster the view of holding firm on prices.

Prices of tungsten products on August 30, 2024

Picture of non-sag tungsten wire 

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