China Tungsten Prices Have Slightly Weakened on Quiet Market

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have slightly weakened, although the overall supply and demand dynamics remain unchanged. 

The latest PPI data indicates that domestic demand recovery is still below expectations, leading to a shift in market sentiment. There is increased profit-taking on the supply side and more bargaining pressure from downstream buyers, causing the market to remain in a weak and steady consolidation phase.

The price of 65% black tungsten concentrate is holding at around $20,000.0/ton, but demand support is weak. There is some softening in price negotiations, though limited supply helps maintain a firm price floor. Industry participants expect minimal room for price concessions.

Ammonium paratungstate (APT) prices are hovering around $334.1/mtu, with confidence divided between buyers and sellers. Market activity remains subdued, with most transactions driven by cautious demand and prices referenced to long-term contracts from major tungsten producers.

Tungsten powder prices have slightly softened, with quotes centering around $44.4/kg. Tungsten carbide powder remains stable at approximately $43.7/kg. The market is in a balancing act between cost support and limited demand, leading to a stalemate in price movements.

Ferro-tungsten (70% content) prices hold steady at $30,000.0/ton, with the supply-demand relationship maintaining the current balance. Transactions are driven primarily by actual demand, and the spot market remains tepid.

The scrap tungsten market shows a slight downward trend, as the expected seasonal "Golden September" surge has yet to materialize. Overall consumer enthusiasm remains weak, leading some sellers to adjust their prices.

On the macroeconomic front, August saw a seasonal rise in CPI due to high temperatures and rainy weather, but PPI continued to decline due to weak demand and lower international commodity prices. According to data from the National Bureau of Statistics, China's CPI in August rose by 0.6% year-on-year, the highest increase of the year, and 0.4% month-on-month. Meanwhile, PPI fell by 1.8% year-on-year and 0.7% month-on-month, with industrial producer purchase prices also declining by 0.8% year-on-year and 0.6% month-on-month.

Prices of tungsten products on September 11, 2024

Picture of tungsten needles 

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