The Price of 70% Ferro Tungsten Stabilizes in the Middle of October 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are showing signs of rising, and the macro policy is warming and the supply at the mine end is tight, which boosts the market's bullish view. Tungsten market transactions are still slow, and the effectiveness of macro policies and the progress of demand recovery need time to verify.

In the tungsten concentrate market, the fundamentals maintain a tight supply and demand situation, and there are many positive signals at the macro level. Short-term holders are more willing to sell and support the market. The price of 65% black tungsten concentrate is testing above $20,290.0/ton. 

In the ammonium paratungstate (APT) market, the difficulty of raw material replenishment has increased, and the downstream demand support is poor. In the short term, merchants' quotations are strong, and the APT price is testing the $343.9/mtu mark, and the transaction atmosphere is insufficient.

In the tungsten powder market, market cost support has been strengthened, and the pressure of shipment still exists. Trading sentiment is released on demand, and the market center of gravity has slightly risen. The price of tungsten powder is about $45.1/kg, and the price of tungsten carbide powder is about $44.3/kg. 

In the ferro tungsten market, the recent macro and cost-side positive drivers have strengthened, and there has been no significant increase in demand. New orders in the market follow the market, and the price of 70% ferro tungsten has consolidated at the level of $30,434.8/ton. 

In the scrap tungsten market, the improvement in the sentiment of the raw material market has boosted the intention of holders to support the market, but the expectation of improvement on the demand side is not strong, and the overall trading atmosphere remains cautious.

In terms of macro, according to the data of the central bank, at the end of September, the balance of broad money (M2) was 309.48 trillion yuan, a year-on-year increase of 6.8%. The stock of social financing scale was 402.19 trillion yuan, a year-on-year increase of 8%. In the first three quarters, the cumulative increase in social financing scale was 25.66 trillion yuan, 3.68 trillion yuan less than the same period last year. The RMB loans issued to the real economy increased by 15.39 trillion yuan, a year-on-year decrease of 4.13 trillion yuan. General Administration of Customs: In the first three quarters, the total value of my country's import and export of goods was 32.33 trillion yuan, breaking 32 trillion yuan for the first time in the same period in history, an increase of 5.3% year-on-year. Among them, exports were 18.62 trillion yuan, up 6.2%; imports were 13.71 trillion yuan, up 4.1%; and the trade surplus was 4.91 trillion yuan. my country's total imports and exports with countries participating in the construction of the "Belt and Road" were 15.21 trillion yuan, up 6.3% year-on-year.

Prices of tungsten products on October 16, 2024

Picture of tungsten pins 

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