Tungsten Powder and Tungsten Carbide Powder Prices Remain Stable

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have remained stable, with the market fundamentals still in a state of balance, while the macroeconomic atmosphere shows signs of improvement. 

Although the traditionally strong “Golden September” trading period has failed to meet expectations, dampening trader sentiment, recent measures by the U.S. Federal Reserve to cut interest rates and similar actions by the Chinese central bank to lower reserve requirements and interest rates have boosted global liquidity expectations. This, in turn, has bolstered consumer confidence and improved sentiment in the metals sector. As the National Day holiday approaches, tungsten product prices are experiencing a cautious stabilization phase.

The price of 65% grade black tungsten concentrate is steady at around $19,855.1/ton, with limited purchasing activity from downstream buyers. Suppliers are maintaining a stable market stance, and trading is predominantly through negotiations, with limited resource circulation. 

Ammonium paratungstate (APT) prices are fluctuating around $334.1/mtu. There are differing confidence levels between upstream and downstream sectors, and a mismatch in market supply and demand, leading to sluggish spot trading.

Tungsten powder prices are stable at approximately $44.6/kg, while tungsten carbide powder prices are hovering around $43.9/kg. Downstream end-users are restocking only as needed, and overall market transactions are average, with limited confidence in market trends.

The price of 70% tungsten iron is around $30,144.9/ton. Recent macroeconomic policies have somewhat supported consumption sentiment, but the actual release of demand remains limited. Trading activity remains cautious as the holiday approaches.

Scrap tungsten prices have also remained stable. The sustainability of favorable monetary policies, both domestically and internationally, remains to be seen, as market demand support is still insufficient. Market confidence is low, with a predominant short-term cautious outlook.

On the macroeconomic front, People's Bank of China Governor Pan Gongsheng announced a 0.5 percentage point reduction in the reserve requirement ratio, providing about 1 trillion RMB in long-term liquidity. The central bank is expected to further cut the reserve ratio by an additional 0.25-0.5 percentage points within the year, and reduce the 7-day reverse repo rate by 0.2 percentage points, potentially leading to a 0.3 percentage point cut in the Medium-term Lending Facility (MLF) rate, which would then affect the Loan Prime Rate (LPR) and deposit rates by 0.2-0.25 percentage points. The interest rate on existing mortgages will be reduced by about 0.5 percentage points, while the down payment ratio for second-home loans will be lowered from 25% to 15%. Additionally, the central bank will increase the support ratio for guaranteed housing re-loans from 60% to 100%, with a dedicated structural monetary policy tool for the stock market being introduced for the first time.

Prices of tungsten products on September 26, 2024.

Picture of tungsten alloy bar 

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