China Tungsten Prices Remained Stable on Low Market Activity

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained in a steady state with low market activity. 

Suppliers have shown slightly more flexibility, giving buyers increased leverage in price negotiations, but overall sales performance remains average as the market awaits actual demand recovery during the traditionally busy "Golden September" period.

The price of 65% tungsten concentrate stayed around $19,857.1/ton, with limited supply continuing to support the market. However, sellers have become more willing to sell, while demand remains weak, leading to low transaction volumes. Expectations hinge on a tangible improvement in downstream demand.

Ammonium paratungstate (APT) prices were stable at around $334.1/mtu, with a stalemate in market trading. Domestic supply and demand remain locked in a tug-of-war, while international trade faces several uncertainties. Production activity remains slow, and market activity is limited, with the future trend still unclear.

Tungsten powder prices held steady at $44.4/kg, while tungsten carbide powder stayed around $43.7/kg. The alloy industry continues to show weak demand, with no significant changes, and there is little bulk purchasing. However, raw material costs and essential downstream demand are still providing support. Powder suppliers are mainly following market trends, awaiting further developments.

The price of 70% ferrotungsten hovered around $30,000.0/ton, with an increase in production resumption. Downstream demand remains stable but minimal, with limited active restocking, and market transactions remain moderate. Most market participants are adopting a wait-and-see approach. In the waste tungsten market, prices have remained weak and stable in the short term. Although sellers are showing a slightly higher willingness to sell, the recent market outlook has prompted cautious purchasing attitudes among downstream users, pressuring overall transaction levels.

According to customs data, China's total goods trade value for the first eight months of the year reached RMB 28.58 trillion, a 6% increase year-on-year. Exports rose by 6.9% to RMB 16.45 trillion, while imports increased by 4.7% to RMB 12.13 trillion, resulting in a trade surplus of RMB 4.32 trillion. China's top three trading partners were ASEAN, the European Union, and the United States, with total trade values of RMB 4.5 trillion (up 10%), RMB 3.72 trillion (up 1.1%), and RMB 3.15 trillion (up 4.4%), respectively. Trade with Belt and Road Initiative countries totaled RMB 13.48 trillion, up 7%.

Prices of tungsten products on September 12, 2024

Picture of tungsten alloy cards 

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