The Tungsten Market Remains Stable as the Chinese New Year Approaches

Analysis of latest tungsten market from Chinatungsten Online

The tungsten market remains primarily stable as the Chinese New Year approaches. 

With maintenance work starting gradually, the supply of tungsten raw materials is limited. Rising costs have prompted some downstream customers to buy in anticipation of price increases, while others delay stocking. This divergence reflects some market disagreements, with overall demand seeing moderate growth. Recent market activity is relatively steady, with a cautious and watchful atmosphere prevailing.

The price of 65% black tungsten concentrate faces significant resistance at $20,422.5/ton, as downstream users are somewhat hesitant due to high prices, affecting market liquidity and resulting in stalled negotiations.

Ammonium paratungstate (APT) prices are holding steady at around $337.4/mtu. Refiners are cautiously balancing high raw material costs with weak downstream demand, leading to limited market activity.

Tungsten powder prices remain stable at approximately $44.8/kg, while tungsten carbide powder is consolidating near $44.1/kg. Upstream raw material costs remain high, but weak alloy consumption in downstream markets keeps the powder market steady with transactions occurring as needed.

70 tungsten iron prices are reported at around $30,422.5/ton. Tight supply at the year-end and some necessary stockpiling have supported market sentiment domestically and internationally, causing prices to rise slightly, although transaction volumes are slowing.

Scrap tungsten prices remain stable with conservative market expectations. While rising costs have supported prices, trading activity is limited.

According to reports from The Paper, excavator sales, often seen as a "barometer" of the construction machinery industry, have ended three consecutive years of decline. The domestic market has stopped declining and is beginning to recover, while overseas sales have remained above 100,000 units annually for three consecutive years.

In related news, the National Development and Reform Commission and the Ministry of Finance have announced a 2025 policy to accelerate equipment upgrades and promote the replacement of old consumer goods with new ones. The policy aims to promote recycling, support large-scale equipment renewal, and expand demand for consumption.

Prices of tungsten products on January 10, 2025

Picture of APT

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