Steady Upward Trend in Tungsten Prices Amid Market Challenges and Opportunities

Details: Category: Tungsten's News; Published on Friday, 10 January 2025 15:36

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices have recently shown a steady upward trend, primarily supported by the positive market stance of miners,

which has driven up prices for intermediate smelting products. While the pressure to raise prices for downstream processed tungsten products is significant, the high production costs have led to a general price increase of 3-10% for hard alloy cutting tools at the start of the year.

However, the subdued market consumption environment continues to suppress overall purchasing demand, resulting in cautious and sluggish transactions. Market participants are closely monitoring the progress of pre-holiday maintenance work by raw material suppliers and stockpiling by consumer enterprises.

Tungsten concentrate market: Prices for high-grade concentrates have reached $20,422.5/ton, but the imbalance between supply and demand is evident. The market is characterized by tight supply, high prices, and limited transactions.

Ammonium paratungstate (APT) market: Smelters remain cautious with production and sales, testing offers at around $339.0/mtu. However, sustained demand pressure has led to divided confidence among buyers and sellers, with few spot transactions observed.

Tungsten powder market: Prices remain stagnant, with tungsten powder and tungsten carbide powder hovering at approximately $44.8/kg and $44.1/kg, respectively. While alloy prices have increased, actual transaction volumes are limited as the consumption end shows a lackluster response to raw materials.

Ferrotungsten market: Prices are following the upward trend, with 70% ferrotungsten priced at $30,422.5/ton. Transactions remain demand-driven and cautious, reflecting a subdued market sentiment.

Scrap tungsten market: Prices are buoyed by strong raw material market trends. Suppliers are relatively active in their offers, while buyers remain cautious about replenishing stocks. The tug-of-war atmosphere within the tungsten industry chain persists, limiting transaction enthusiasm.

Macroeconomic update: On January 7, the National Development and Reform Commission released the National Unified Market Construction Guidelines (Trial), outlining actionable measures in areas of broad consensus. These guidelines aim to address the "how-to" challenges faced by various regions and departments in promoting a unified national market. This initiative is expected to significantly enhance China's transition from a large market to a strong one, foster a new development pattern, and drive high-quality growth.

Prices of tungsten products on January 9, 2025

China tungsten price image