Tungsten Smelting Companies Raised Long-term Contract Prices for the First half of September 2024

Details: Category: Tungsten's News; Published on Wednesday, 04 September 2024 16:32

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable, with some adjustments. While the long-term contract prices from major tungsten smelting companies have increased compared to August, they remain relatively conservative compared to the current strong market, affecting traders' sentiment.

Additionally, the anticipated recovery in downstream demand has yet to materialize, leading to a slowdown in the supply and cost-driven upward trend. The market is currently in a high-level consolidation phase, with some profit-taking.

In the tungsten concentrate market, high-grade prices remained steady at around $20,142.9/ton. Suppliers continued to hold back sales, aiming to support the market, while buyers were cautious, purchasing only as needed, resulting in limited trading volume.

In the APT market, long-term contract prices from companies have tempered the market's upward momentum. The ongoing supply-demand and cost dynamics led to a slight pullback after the price reached $339.0/mtu, with participants now waiting for further quotes from institutions and other tungsten companies.

In the tungsten powder market, end-user demand remained steady, with purchases made on an as-needed basis. Transactions were largely negotiated, with tungsten powder prices holding firm at around $44.6/kg, while tungsten carbide powder prices consolidated at around $43.9/kg.

In the ferrotungsten market, raw materials continue to provide support, but demand remains limited, leading to a stable phase in the market. The price of 70% ferrotungsten is around $28,714.3/ton, with market participants closely monitoring the supply chain dynamics.

In the waste tungsten market, the primary material market has influenced sentiment in the recycled material sector. Suppliers are holding back stock in anticipation of higher prices, but cautious buying due to cost pressures on the alloy side has resulted in a stalemate in actual transactions, with a wait-and-see attitude prevailing.

Prices of tungsten products on September 4, 2024

APT price image