China Tungsten Prices Remained Stable on Subdued Market Sentiment

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain weak but stable, with firm quotations from mining sources,

 though market sentiment is cautious and subdued. Intermediate traders and downstream users are maintaining moderate purchases based on rigid demand, while high-priced resources face significant circulation pressure. Most industry participants are adopting a wait-and-see attitude, with pre-National Day stocking trends yet to be confirmed.

65% black tungsten concentrate is fluctuating around $19,714.3/ton. Overall market supply remains tight due to sellers holding back, while demand is under ongoing pressure, resulting in limited transaction activity and slight price fluctuations.

APT prices remain stagnant around $332.5/mtu, with poor profitability for smelters. Active production and sales are subdued, with few inquiries from downstream users, and opinions are divided between buyers and sellers, keeping short-term prices under pressure.

Tungsten powder prices are stagnant at $44.3/kg, while tungsten carbide powder is steady at around $43.6/kg. Alloy consumption and downstream demand are moderate, with market participants cautiously operating on a need-only basis. Sentiment is predominantly cautious, and transactions are sluggish.

Ferrotungsten prices remain stable at around $30,000.0/ton. Overall enthusiasm for restocking is low, with cautious consumption demand from downstream industries. Given limited positive news on raw materials, short-term ferrotungsten market conditions remain weak and stable.

In the waste tungsten market, substantial demand support is lacking, and with softening momentum from raw material prices, traders' sentiment has weakened, putting pressure on negotiation confidence.

On the macroeconomic front, data from the National Bureau of Statistics shows that in August, China’s industrial output grew by 4.5% year-on-year and by 0.32% month-on-month. Retail sales of consumer goods reached 3.8726 trillion yuan, up 2.1% year-on-year. The national urban surveyed unemployment rate was 5.3%, up 0.1 percentage points from the previous month. From January to August, fixed asset investment (excluding rural households) totaled 32.9385 trillion yuan, up 3.4% year-on-year, while private investment was 16.7911 trillion yuan, down 0.2%.

Prices of tungsten products on September 19, 2024

Picture of tungsten alloy rods 

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >