China Tungsten Price Has Shown an Upward Trend in the Middle of October 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price has shown a stagnant upward trend in the week ended on Friday, October 18, 2024. 

Influenced by multiple factors such as macroeconomic policies, raw material supply, downstream demand, and international trade relations, market buying and selling confidence remains divided, with a lack of actual transaction activity and limited price fluctuation space.

The tungsten concentrate market price is supported by tight supply and price-cost factors, leading to a strong reluctance among sellers to sell. However, the relatively weak demand side has constrained the upward space for prices. This week, high bids for tungsten ore reached above $20,434.8/ton, but actual transaction orders were limited.

In the ammonium paratungstate (APT) market, prices are stagnant and undergoing consolidation. The increasing difficulty of raw material replenishment has enhanced cost support, but downstream demand remains inadequate, and tungsten companies' pricing is relatively conservative, suppressing price increases. APT prices have encountered resistance at the $343.9/mtu level, with participants having differing views on the market outlook and a strong atmosphere of observation.

In the tungsten powder market, prices are holding steady with a slight upward trend, mainly influenced by the firmness of raw material prices and improved macroeconomic policies enhancing funding and market consumption expectations. However, orders in the alloy sector remain tepid, suppressing active trading atmosphere. The latest tungsten powder prices are reported at around $45.1/kg, while tungsten carbide powder prices are around $44.3/kg. 

Ferro tungsten prices are mainly stable, with a continued stalemate in the atmosphere between upstream and downstream in the industrial chain. The capital market atmosphere has cooled down, and trading activities in the market remain on-demand. The price of 70 tungsten iron is consolidating at the $30,434.8/ton, with a cautious overall trading atmosphere.

The waste tungsten market price is currently stable, mainly due to a cooling atmosphere in the tungsten raw material sector and a decrease in commodity market activity. The fundamental stalemate in the waste tungsten market continues to suppress market liquidity and pricing focus, with recent market sentiment being predominantly watchful, leading to stagnant horizontal movement in waste tungsten prices.

Prices of tungsten products on October 21, 2024

Picture of tungsten copper blocks

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >