Weak China Tungsten Prices Amid Global Economic Uncertainty

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have shown a weakening trend recently, with market confidence lacking. 

On the supply and demand front, the fundamentals of the tungsten market remain under pressure, with insufficient support from the raw materials market. Meanwhile, demand is slow, and purchasing is focused on price negotiations, leading to a subdued trading atmosphere.

In terms of news, post-Mid-Autumn Festival price quotes from major tungsten companies were lower than market expectations, further dampening the mood among traders.

On the macroeconomic side, the much-anticipated U.S. Federal Reserve rate decision, which included a 50 basis point rate cut, provided a temporary boost to commodities and other non-dollar-denominated assets. However, it also intensified concerns over the U.S. economy. The tungsten industry continues to be influenced by volatile international economic and financial conditions, with increasing uncertainty surrounding strategic resource control and consumption, making market participants cautious.

Prices for 65% grade black tungsten concentrate remained around $19,714.3/ton, with high-priced transactions facing difficulty. APT prices have adjusted to $330.9/mtu, with lower long-term contract quotes from tungsten companies further weighing on market confidence. Tungsten powder prices dropped below $44.3/kg, while tungsten carbide powder was temporarily quoted at $43.4/kg, with market activity remaining low. Ferrotungsten prices remained weak at $30,000.0/ton, as pressure on raw material prices softened negotiations.

Prices of tungsten products on September 20, 2024

Picture of tungsten alloy block 

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