China Tungsten Prices Remain in a Sideways Trend at the end of November 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain in a sideways trend, with market stagnation at high levels leading to increased profit-taking sentiment. 

According to research by Chinatungsten Online, year-end factors, such as public company reporting requirements and factory restocking needs, maintain a generally bullish outlook in the industry. However, limited overall consumption activity suggests that price increases will likely remain modest.

65% Black Tungsten Concentrate: Prices held at $20,352.1/ton. Suppliers' upward pricing attempts face limited acceptance from buyers, resulting in a market primarily driven by just-in-time procurement and continued stagnation at high levels.

Ammonium Paratungstate (APT): Prices at $337.4/mtu. Market demand remains subdued, with few bulk orders. Manufacturers face difficulty in raising or lowering prices while enduring significant margin pressures.

Tungsten Powder: Priced at $44.9/kg, and tungsten carbide powder at $44.2/kg. Strong cost support contrasts with weak demand, and confidence among alloy manufacturers remains low. Limited orders are transacted primarily through negotiations.

70 Ferro-Tungsten: Priced at $30,281.7/ton. While raw material prices remain high, downstream demand shows no significant improvement, and market sentiment is characterized by negotiation and indecision.

Scrap Tungsten: Prices are steady. While sellers have increased their willingness to offload inventory, concessions are minimal, and buyers maintain a cautious, on-demand procurement approach. The subdued consumption climate limits overall pricing flexibility.

Macro Outlook:

Goldman Sachs projects that China's real GDP growth will slow from 4.9% this year to 4.5% in 2024. It also anticipates a significant interest rate cut of 40 basis points in 2025 and an increase in the broad fiscal deficit ratio by 1.8 percentage points.

Prices of tungsten products on November 27, 2024

Picture of ferro tungsten 

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