Tungsten Prices Maintained Steady in Early September 2024

Analysis of latest tungsten market from Chinatungsten Online

On Monday, tungsten prices maintained a steady stance, with the market atmosphere remaining cautious. 

Market participants are divided in their expectations for "Golden September" demand, leading to a generally cautious approach to trading. At the start of the month, the market's attention is focused on the upcoming pricing guidance from industry institutions and major tungsten enterprises.

Tungsten Concentrate Market: Supply remains tight, supporting firm prices, with the 65% grade steady at approximately $20,142.9/ton. Downstream customers are somewhat hesitant due to high prices, resulting in slower follow-up transactions.

Ammonium Paratungstate (APT) Market: There is a strong sentiment of reluctance to sell and price support, with current prices consolidating around $339.0/mtu. Low levels of spot resources are available, and downstream buyers are not very proactive, contributing to a strong wait-and-see sentiment and limited negotiation progress.

Tungsten Powder Market: Prices are around $44.6/kg, while tungsten carbide powder is priced at approximately $43.9/kg. Sellers are cautiously balancing market costs with demand pressures, and overall consumer activity remains limited, with attention focused on potential updates.

Ferro-Tungsten Market: Prices are steady around $30,142.9/ton, as the market navigates the challenges of sourcing raw materials and cautious downstream consumption. Trading remains in a stalemate, with a cautious "as needed" approach prevailing in the short term.

Scrap Tungsten Market: Confidence is still mixed. While the sentiment of market support from the tungsten raw material side has strengthened, actual demand release is cautious and need-based. The market is closely watching the realization of "Golden September" demand and the potential risk of profit-taking from suppliers.

Macroeconomic Data: According to the National Bureau of Statistics, China's Manufacturing PMI for August was 49.1%, down 0.3 percentage points from the previous month; the Non-Manufacturing PMI was 50.3%, up 0.1 percentage points; and the Composite PMI Output Index was 50.1%, down 0.1 percentage points.

Prices of tungsten products on September 3, 2024

Picture of tungsten filaments 

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