China Tungsten Prices Showed a Firm Upward Trend in the Middle of November 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have shown a firm upward trend in the week ended on Friday November 15, 2024. 

The tungsten ore market remains strong, while the alloy sector is adopting a relatively conservative approach. The supply-demand imbalance continues to be evident, and market activity remains cautious, with participants waiting for updates on large tungsten companies' long-term contract prices for the second half of the month, as well as for macroeconomic news.

65% Black Tungsten Concentrate prices remain stable at around 144,000 yuan/ton. Suppliers are holding firm, expecting price increases, while low-priced resources are hard to find. Buyers are purchasing according to their needs, resulting in a standoff in market transactions. Trading activity remains subdued, with deals taking place mostly at higher price levels.

Ammonium Paratungstate (APT) prices remain at approximately 212,000 yuan/ton. Raw material costs are high, and downstream demand for price increases is slightly delayed. Market negotiations are divided, and the stalemate continues in terms of actual transactions.

Tungsten Powder is priced at 316 yuan/kg, while Tungsten Carbide Powder is priced at 311 yuan/kg. Supply from upstream players and cost support are holding the market steady. However, downstream alloy demand is relatively weak, and trading activity remains stagnant, with limited new orders.

70% Tungsten Ferroalloy prices hold steady around 214,000 yuan/ton, driven mainly by strong trends in the raw material market. Steel mills' consumption remains cautious, and the supply-demand situation is balanced but cautious. Short-term trading remains flat, with the market following current trends.

Tungsten Scrap prices have shown a stable trend. The shortage of low-cost primary raw materials has led to a stronger secondary material market. However, downstream alloy consumption remains on hold, and market transactions are driven by just-in-time demand. The overall atmosphere remains cautious, with participants awaiting further developments.

Prices of tungsten products on November 18, 2024

Picture of tungsten heaters 

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