China Tungsten Prices Remain Stable on Cautious Sentiment

Details: Category: Tungsten's News; Published on Thursday, 21 November 2024 18:03

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain in a high-level consolidation phase, with market activity characterized by a cautious and stagnant atmosphere.

Sellers hold mixed sentiments between exploring higher prices and profit-taking, while buyers cautiously replenish inventories based on actual needs. Tungsten enterprises' long-term contract prices released during the week have reinforced market confidence at the bottom, but support for further price increases remains limited. Negotiations in the market are rational.

The price of 65% grade black tungsten concentrate remains firm at approximately $20,281.7/ton. Sellers continue to hold back on sales, anticipating price increases, which has made low-priced resources scarce. However, follow-up transactions at higher prices remain slow, as market demand momentum is still limited.

APT prices are steady at around $337.4/mtu. Due to relatively weak demand, traders remain cautious and are primarily adopting a wait-and-see approach to maintain stability.

Tungsten powder prices have risen to $44.6/kg, while tungsten carbide powder is priced at $43.9/kg. The price increase is driven by cost-side support, but end-user demand remains subdued, and transactions are mainly focused on essential needs.

70% tungsten-iron alloy prices are stable at approximately $30,140.1/ton. Recent stability in raw material costs and steel procurement news has led traders to adopt a cautious, demand-driven approach, with market sentiment remaining predominantly watchful.

Prices for tungsten scrap grinding materials and tungsten scrap rods also increase. Upward market sentiment has been transmitted from the raw material sector, but purchasing in the alloy sector remains focused on essential needs, keeping market liquidity limited.

Prices of tungsten products on November 21, 2024

China tungsten price image