China Tungsten Price Showed a Sideways Trend at the end of September 2024

Analysis of latest tungsten market from Chinatungsten Online

The overall China tungsten price showed a sideways trend in the week ended on Friday, September 27, 2024. 

On the one hand, under the situation of continuous game between supply and demand in the industrial chain, the market's ups and downs are limited. After experiencing the negative decline cycle since September, the willingness of holders to sell at a low price has gradually decreased. 

On the other hand, due to the recent macro-control measures at home and abroad, the liquidity of funds in the market and investor sentiment have been activated, and the market sentiment of tungsten raw materials has been strengthened. However, due to the problem of insufficient effective demand in the market and the risk of weak economic recovery, the market's trading confidence is limited.

The price of 65% wolframite concentrate is temporarily stable at around $19,855.0/ton. The market resource supply situation is still tight, and there is still bargaining in downstream purchases. On-site transaction negotiations continue to be gamed.

The price of ammonium paratungstate (APT) is consolidating at around $334.1/mtu. The market capacity plan does not match the actual demand status. The profit margin of smelters is still under pressure, and trading is deadlocked on demand.

The price of tungsten powder remains around $44.6/kg, and the price of tungsten carbide powder is around $43.9/kg. The positive macro news has not yet been directly reflected in the consumption performance of the alloy end. Recently, the market is mostly in a wait-and-see mood, and the quotations are mixed.

The price of 70 ferrotungsten is stagnant at around $30,144.9/ton. The supply of tungsten raw materials and the consumption performance of the steel market are both limited. The industry continues to wait and see the game of the industrial chain, and the market follows the market.

The stabilization sentiment of the scrap tungsten market has increased, and the resources of the holders are slightly tight. The downstream terminal purchases and stockings before the National Day are limited. The market has a divergence of confidence between long and short positions, and the recent sideways negotiations are the main focus.

Prices of tungsten products on September 29, 2024

Picture of tungsten alloy parts 

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