Chinese Tungsten Market Remained Stable in October 2024

Analysis of latest tungsten market from Chinatungsten Online

In October 2024, the Chinese tungsten market exhibited a generally stable and stagnant state for most of the month. 

The fundamentals showed a strong supply but weak demand, with a robust internal economy contrasted by a weak external environment. Traders adopted a cautious and demand-oriented wait-and-see attitude amidst the complexities of the market dynamics. 

Overall, the tight supply at the tungsten mine level provided a relatively firm outlook, maintaining a slight upward trend in prices. However, short-term domestic consumption incentives have had limited positive effects on alloy demand and the industry’s economy, resulting in a cautious trading atmosphere and ongoing negotiations with fluctuating focal points.

Looking ahead, tungsten product prices will continue to be influenced by the supply-demand relationship and macroeconomic policy environment, among other factors. Industry participants believe that the tightness of mineral resources and rising costs will provide an upward basis for tungsten market trends. However, under the complex economic and geopolitical landscape, the demand outlook remains unclear, and tungsten price trends may still exhibit fluctuations. In the short term, stakeholders are watching for post-month-end quotes from institutions and tungsten enterprises, as well as potential adjustments to national policies and financial market volatility stemming from the U.S. elections.

Prices of tungsten products on November 1, 2024

Picture of tungsten pins 

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