China Tungsten Prices Remained Firm Amidst a Cautious Market

Details: Category: Tungsten's News; Published on Tuesday, 05 November 2024 16:24

Analysis of latest tungsten market from Chinatungsten Online

On Monday, China tungsten prices remained firm amidst a cautious market.

This resilience is partly due to continued support from the supply side, which is holding back sales to stabilize the market, and partly due to some restocking demand from the consumer side. However, cautious sentiment among buyers remains strong, limiting both overall market transactions and the potential for price increases.

The price of 65% black tungsten concentrate reached $20,579.7/ton, with miners generally maintaining a firm stance, leading to reduced low-priced resources. Given the lack of a significant increase in demand, high-price transactions in the market are still slow.

Ammonium paratungstate (APT) prices have returned to the $343.9/mtu mark, mainly supported by firm raw material prices, though acceptance from downstream end-users remains limited. Market participants are awaiting the next round of long-term orders from tungsten companies.

Tungsten powder is priced at around $45.4/kg, with tungsten carbide powder stabilizing near $44.6/kg. Raw material costs remain firm, supporting tungsten powder prices; however, limited alloy demand has kept the market cautious and powder trading is holding steady.

Ferro tungsten remains steady at $30,434.8/ton, with firmness in raw material prices influencing the cautious attitude on the consumer side. Numerous uncertainties on the macroeconomic front have led the market to adopt a wait-and-see approach, with short-term adjustments based on need.

Scrap tungsten prices are also holding steady. Firm primary material prices are boosting sentiment among sellers, though traders are still negotiating for favorable rates, resulting in a cautious and slow-moving market due to the ongoing supply-demand tug-of-war.

Prices of tungsten products on November 5, 2024

China tungsten price image