China’s Tungsten Powder Prices Continue to Stabilize Amid a Profit-taking Atmosphere

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continue to show a sideways trend, with the market caught in a supply-demand standoff, making it difficult to improve transaction conditions. 

Suppliers are keeping prices stable, but the gradually increasing selling sentiment indicates resistance to price increases. Buyers remain cautious, negotiating based on actual needs, and overall market demand continues to be weak. With limited room for price adjustments at the end of the month, traders are adopting a wait-and-see approach.

Tungsten concentrate prices are encountering resistance at the $20,422.5/ton mark, with a lack of momentum in downstream demand, which is dampening suppliers' willingness to hold prices high. As the month ends, the intention to lock in profits has increased, but the willingness to offer discounts remains low, resulting in a standoff in market transactions.

Ammonium paratungstate (APT) prices are stabilizing around $337.4/mtu. Downstream stocking demand has not been promptly released, and while the strength of raw material prices is slightly cooling, market activity remains subdued with limited trading enthusiasm, and prices are under pressure.

Tungsten powder prices are reported at $44.8/kg, with tungsten carbide powder at $44.1/kg. Amid a profit-taking atmosphere, the overall tone of negotiations is slightly pressured, with a continued standoff in transactions reflecting traders' cautious and hesitant mindset. There has been little indication of a clear trend in the industry recently, with a significant amount of wait-and-see sentiment.

70% tungsten iron prices are at a standstill around $30,281.7/ton, with differences in views among traders on price fluctuations. The market is largely focused on negotiations based on actual demand, with the overall trend influenced by the fluctuations in tungsten raw material prices and downstream demand from steel tenders.

The scrap tungsten market remains stable with a wait-and-see attitude. Suppliers are more willing to release material, but buyers are cautious about accepting goods. Overall, bargaining power in the market is slightly under pressure, and the market is awaiting clearer information once the new month begins.

Macroeconomic Overview:

According to data from the National Bureau of Statistics, from January to October, the total profit of industrial enterprises above a designated size nationwide reached 5.868 trillion CNY, down 4.3% year-on-year. Operating revenue for the same period amounted to 110.96 trillion CNY, up 1.9% year-on-year. By the end of October, the asset-liability ratio of industrial enterprises above a designated size was 57.7%, a slight decrease of 0.1 percentage points compared to the previous year.

Breaking it down by sector: The mining industry achieved a total profit of 984.53 billion CNY, down 12.7% year-on-year; The manufacturing sector's total profit was 4.223 trillion CNY, a decrease of 4.2% year-on-year; The electricity, heat, gas, and water production and supply industry saw a total profit of 661.2 billion CNY, an increase of 11.5% year-on-year.

Prices of tungsten products on November 29, 2024

Picture of tungsten powder 

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