China Tungsten Prices Are Stuck in a Stalemate in the Second half of September 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are stuck in a stalemate and running sideways. The main contradiction in the current tungsten market is the tight supply at the mine end and the weak demand at the downstream terminals. The psychological price differences between buyers and sellers have affected the overall transaction activity of the market.

The basic logic behind the tight price of tungsten concentrate is that 1) the grade of existing mineral resources has decreased and industry concentration has increased, 2) domestic resource protection measures and environmental protection and safety requirements have increased, as well as various mining costs have increased, restricting new mine development and exploration and production expansion of old mines, 3) coupled with the loose production capacity of the downstream tungsten chemical industry and alloy end, increase the consumption demand for tungsten raw materials, the tight supply of tungsten concentrate continues, supporting the strong confidence at the bottom of the market.

However, the current profit margin of the smelting end is significantly lower than that of the mining end. There is obvious excess production capacity of smelting products and low-end alloys. Insufficient terminal demand has forced upstream cost reduction bidding. Coupled with the instability of the external economic and geopolitical situation, the tungsten raw material market Confidence is under pressure, and the market has been in a stalemate and weak cycle recently. Pro

During the National Day holiday, after the price of tungsten products was adjusted according to the long-term quotations of large tungsten companies, the wait-and-see sentiment in the market has increased recently, waiting for effective demand to recover or other directional news to enter the market.

Prices of tungsten products on September 25, 2024

Picture of tungsten granule 

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