Tungsten Market Overview: Price Stability Amid Tight Supply and Weak Demand

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price continues to remain flat as the market adopts a wait-and-see attitude. 

Recently, due to tight tungsten ore resources and price increases in long-term contracts from tungsten companies, the market has shown an upward tendency that is hard to reverse. However, due to weak demand, the market remains in a "prices firm but transactions scarce" situation, with few new orders.

The price of 65% black tungsten concentrate remains steady at around $20,579.7/ton, with market supply tight. This is due to several factors: the reduction of national reserves, the decreasing grade of ores year by year, seasonal impacts on mine production, and a hoarding strategy by miners driven by expectations of price increases.

The price of ammonium paratungstate (APT) remains stagnant at around $343.9/mtu. The supply of raw materials is tight and cost increases are raising the market's willingness to explore higher prices. However, demand imbalances and the conservative approach from tungsten companies in long-term contracts have dampened market confidence. The industry chain continues in a stalemate, with weak market activity and significant pressure on factories to manage losses.

The price of tungsten powder has risen to around $45.5/kg, while the price of tungsten carbide powder is quoted at $44.8/kg. The supply shortage at the mining level and the forecasted price increase support the sellers' price levels. However, demand for alloys is limited, and the market's momentum for price hikes remains weak, with a lack of high-level transactions.

The price of 70 tungsten iron is reported at around $30,724.6/ton, with strong market cost factors and a tight supply-demand relationship. The macroeconomic environment continues to be volatile, with the U.S. presidential election now settled, but international economic and geopolitical conditions remain complex and fluid. Industry participants are maintaining a cautious wait-and-see approach.

Scrap tungsten prices follow the market trend. The atmosphere for primary raw materials remains relatively strong, which has increased the market's support for prices. However, the consumption side remains inactive, limiting the market's ability to push prices further, and trading remains subdued with a focus on demand-based purchasing.

Prices of tungsten products on November 8, 2024

Picture of tungsten alloy rods

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