China Tungsten Prices Exhibited a Steady Upward Trend in Early January 2025

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices exhibited a steady upward trend in the week ended on Friday, January 10, 2025, 

driven by price adjustments by institutions and major tungsten enterprises early in the week, as well as the bullish sentiment fueled by maintenance cycles and strong futures pricing in the tungsten ore sector. Overall, the tungsten market showed an upward trajectory. However, market activity remained subdued due to a lack of effective demand, with downstream end-users showing limited enthusiasm for stockpiling and maintaining a cautious stance.

The price of 65% black tungsten concentrate held at around $20,352.1/ton, with an average weekly increase of 0.77%. Anticipations of tight supply during the Spring Festival and pre-Two Sessions period dominated sentiment on the mining side, though transaction confidence remained limited.

Ammonium paratungstate (APT) prices reached approximately $339.0/mtu, with an average weekly increase of 0.57%. The market faced a balance between the difficulty of sourcing raw materials and consumer acceptance levels. Refiners adopted a cautious operational strategy, aligning with market dynamics.

Tungsten powder prices stood at $44.8/kg, while tungsten carbide powder prices were at $44.1/kg, with weekly average increases of about 0.45%. Tight raw material supply coupled with weak downstream demand kept the supply chain in a state of prolonged negotiation, leaving powder traders in a dilemma and prices hovering in a wait-and-see mode.

The price of 70% ferro-tungsten adjusted to around $30,563.4/ton, with a weekly average increase of 0.56%. The stable high prices of raw materials and slightly released restocking demand provided some support, prompting ferro-tungsten manufacturers to adopt a more bullish stance, though transactions were cautious and demand-driven.

The scrap tungsten market remained stable, with sentiment from the tungsten raw material sector boosting supplier confidence. However, downstream purchasing enthusiasm remained subdued, and there was still a divergence in market confidence for future trends, leading to cautious on-demand buying activity.

According to the National Bureau of Statistics, in January, the consumer market remained generally stable. The national CPI was flat month-on-month and increased by 0.1% year-on-year. Core CPI, excluding food and energy prices, continued to rise, up 0.4% year-on-year, an increase of 0.1 percentage points compared to the previous month. The national PPI fell by 0.1% month-on-month and declined by 2.3% year-on-year, with the year-on-year decline narrowing by 0.2 percentage points from the previous month.

Prices of tungsten products on January 13, 2024

Picture of tungsten alloy counterweights

Follow our WeChat to know the latest tungsten price, information and market analysis.

• Next >