China Tungsten Prices Remained Stable on Tight Supply

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remained stable with a watchful stance on November 11, 2024.

 Raw material supply is relatively tight, and downstream purchasing continues to be demand-based. Market activity is lukewarm, with participants adopting a cautious wait-and-see approach, awaiting directional updates.

65% Black Tungsten Concentrate: The price is quoted at $20,724.6/ton. The overall market supply remains tight while demand remains balanced, with an average trading atmosphere and a steady market performance.

Ammonium Paratungstate (APT): Prices are quoted at $345.5/mtu. Smelters continue to face high cost pressures, but there has been no significant improvement in downstream consumption. Market transactions remain stalemated, with slow trading activity.

Tungsten Powder: Prices are quoted at $45.7/kg, while tungsten carbide powder is priced at $44.9/kg. The market is supported by stronger cost-side factors, but alloy demand remains weak. Overall, physical market transactions are limited, and prices are consolidating in a sideways pattern.

Ferro-Tungsten (70%): Prices are quoted at $30,724.6/ton. The tungsten ore market shows a firm trend, but the steel market is in the off-season, which has dampened demand. The market remains in a tug-of-war between supply and demand, with prices following market trends.

Scrap Tungsten: Prices have remained stable with a slight upward movement, mainly supported by the recent strengthening of primary material prices. However, actual market demand is limited, and the market continues to follow a wait-and-see approach, with transactions driven by immediate needs.

Economic Data:

According to data from the National Bureau of Statistics, in October 2024, the national Consumer Price Index (CPI) decreased by 0.3% month-on-month, remaining unchanged from the previous month, and increased by 0.3% year-on-year, a 0.1 percentage point drop from the previous month's increase. The core CPI, which excludes food and energy prices, slightly rebounded with a year-on-year increase of 0.2%, a 0.1 percentage point increase from the previous month. The Producer Price Index (PPI) fell by 0.1% month-on-month, narrowing its decline by 0.5 percentage points compared to last month, marking a second consecutive month of narrowing. Year-on-year, the PPI decreased by 2.9%, with the decline widening by 0.1 percentage point compared to last month.

Prices of tungsten products on November 12, 2024

Picture of tungsten alloy rods

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