Scrap Tungsten Prices Are Stable with Macroeconomic News Showing a Positive Trend

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable, as industry participants reached a consensus on the tight supply of tungsten ore, relaxed tungsten smelting capacity, and the surplus in hard alloy supply. However, there is still disagreement over which side holds the pricing power, leading to a competitive market dynamic.

Recently, domestic policies have boosted market sentiment, but issues such as weak domestic demand and uncertainties in external demand due to economic and geopolitical factors still require time for resolution. Currently, the tungsten market remains cautious, with buyers and sellers negotiating carefully.

The price of 65% black tungsten concentrate remains at around $20,290.0/ton. Most suppliers are optimistic about the future, and low-priced resources are becoming scarce, though some downstream buyers are reluctant to pay high prices, keeping transactions limited to essential needs.

The price of ammonium paratungstate (APT) is holding steady at around $340.6/mtu. While production costs are supporting traders' desire for price increases, demand remains relatively weak, limiting high-level transaction activity.

Tungsten powder prices are stable at around $44.8/kg, while tungsten carbide powder is priced at around $44.1/kg. The stalemate within the supply chain continues to impact market activity, with most participants engaging in essential trade only.

The price of 70% ferrotungsten remains stable at around $30,434.8/ton. The relatively firm raw material prices are supporting suppliers’ confidence in maintaining prices, but inconsistent downstream demand limits trading enthusiasm.

Scrap tungsten prices are also stable, with macroeconomic news showing a positive trend, but demand pressure has not eased significantly. Sellers remain cautious in pricing, and resource liquidity is moderate.

On the macroeconomic front, according to data from China's National Bureau of Statistics, the Consumer Price Index (CPI) in September rose by 0.4% year-on-year and remained flat month-on-month. Core CPI, which excludes food and energy, saw its year-on-year growth rate drop by 0.2 percentage points to 0.1%, the lowest since March 2021. The Producer Price Index (PPI) fell by 2.8% year-on-year, with a month-on-month decline of 0.6%.

Prices of tungsten products on October 15, 2024

Picture of tungsten granule 

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