China’s Tungsten Powder Price Remains Stable on Quiet Market

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable but showed slight signs of easing.

 The market is characterized by a tug-of-war between buyers and sellers, supported by the reluctance of miners to sell but facing weak demand pressures. Actual transactions are stagnant, and expectations for the market are divided, with a strong atmosphere of wait-and-see as the month ends, leading to minor price concessions for sales.

In the tungsten concentrate market, the scarcity of resources continues to support a bottom line, with high-grade tungsten ore prices maintaining around $20,434.8/ton. However, weak downstream demand has resulted in stagnant actual transactions, and market liquidity is average.

In the ammonium paratungstate (APT) market, the relatively sluggish consumption from downstream users is dampening traders' confidence, leading to increased bargaining space for actual transactions, with the mainstream focus hovering around $340.6/mtu. 

Tungsten powder price is reported at around $45.1/kg, while tungsten carbide powder is around $44.3/kg. The pressure on the market fundamentals is difficult to alleviate, with a cautious purchasing attitude prevailing as participants await the actual demand driven by a series of promotional measures.

The price of 70% tungsten iron remains stable at $30,434.8/ton. The tug-of-war in the industry chain and recent seasonal adjustments have resulted in a cautious and stagnant transaction atmosphere, with participants waiting for new directional news.

The waste tungsten market is under relative pressure, with recent confidence in primary raw materials showing slight loosening. Combined with sustained weak demand, this continues to suppress traders' sentiment, leading to sluggish transactions and cautious trading behavior.

On the macroeconomic front, according to the National Bureau of Statistics, from January to September, the total profit of large-scale industrial enterprises nationwide reached 52.816 billion yuan, a year-on-year decrease of 3.5%, while operating revenue was 99.20 trillion yuan, a year-on-year increase of 2.1%. By the end of September, the asset-liability ratio of large-scale industrial enterprises was 57.7%, unchanged from the previous year. The profits of large-scale industrial enterprises in September decreased by 27.1% compared to the same month last year.

Prices of tungsten products on October 29, 2024

Picture of tungsten pellets 

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