China Tungsten Prices Showed a Positive Trend after the National Day Holiday

Analysis of latest tungsten market from Chinatungsten Online

On the first trading day after the National Day holiday, China tungsten prices showed a steady and positive trend. 

This was mainly driven by the upbeat macroeconomic environment and relatively improved market supply-demand expectations. Market participants demonstrated a growing bullish sentiment, with many awaiting the release of new institutional and large enterprise guidance prices.

Today, the Chinese stock market opened with a massive surge: the Shanghai Composite Index rose by 10.13%, the Shenzhen Component Index by 12.67%, the ChiNext Index by 18.44%, and the Beijing Stock Exchange 50 by 26.67%. Nearly a thousand stocks hit their upper limit in opening trading, with more than a hundred broad-based ETFs also hitting their limits. Netizens exclaimed, "The market opened and closed at the same time" and "Witnessing history!"

65% Black Tungsten Concentrate: Priced at around $20,144.9/ton. Suppliers were more reluctant to sell, showing stronger support for price maintenance. Downstream buyers were passively taking deliveries out of necessity.

Ammonium Paratungstate (APT): Priced at approximately $337.3/mtu, with an increasing tendency among producers to explore higher prices. Many were waiting for the release of large enterprise long-term contract prices and actual downstream demand.

Tungsten Powder: Priced at about $44.6/kg, while tungsten carbide powder was around $43.9/kg. Market sentiment was influenced by both raw material prices and the overall macro environment, maintaining stable conditions as participants watched for developments in alloy transactions.

70% Ferro-tungsten: Priced at approximately $30,289.9/ton. During the National Day holiday period, external conditions became more active, positively influencing the price based on cost factors. Spot trading remained cautious with a risk-averse attitude.

Scrap Tungsten: Prices remained firm as sellers showed less willingness to offload stock, while downstream inquiries increased slightly. Overall market confidence improved, but the actual supply-demand dynamics are yet to be observed.

Prices of tungsten products on October 9, 2024

Picture of tungsten putty

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