Tungsten Prices Remain Steady as the Chinese New Year Approaches

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices remain steady and firm as the Chinese New Year approaches. Reports of holiday shutdowns and maintenance at mines have tightened supply, providing strong market support. However, weak demand and cautious consumer sentiment have limited new orders, leading to a slowdown in overall market activity.

Prices for 65% black tungsten concentrate are reported at $20,422.5/ton. Circulating resources are limited, and traders are hesitant to sell while maintaining bullish expectations. However, high-price transactions remain infrequent.

Ammonium paratungstate (APT) is priced at $339.0/mtu. Tight raw material supply and cost pressures are driving market sentiment for price increases, but traders remain conservative about future demand, leading to cautious transactions.

Tungsten powder is priced at $44.8/kg, while tungsten carbide powder is at $44.1/kg. High raw material costs and weak downstream consumption have caused a divergence in market confidence, with negotiations remaining at a standstill.

70% tungsten iron is priced at $30,563.4/ton. Strong support from the tungsten mining sector is sustaining the market, while downstream buyers focus on essential needs. Although sentiment is generally positive, transactions remain cautious, with purchases based primarily on immediate requirements.

In the scrap tungsten market, tight primary raw material supply has bolstered sentiment, and sellers are firm on their offers. However, buyers are purchasing only as needed, reflecting ongoing challenges in the consumption environment. The recent release of the "Recycled Tungsten Raw Materials" industry standard has drawn attention.

On the macroeconomic front, the General Administration of Customs reports that China’s total goods trade value in 2024 reached 43.85 trillion RMB, a 5% year-on-year increase and a historic high. Both trade volume and quality saw growth. Exports exceeded 25 trillion RMB for the first time, reaching 25.45 trillion RMB, a 7.1% year-on-year increase, maintaining growth for eight consecutive years and showcasing strong competitiveness. Imports rose to 18.39 trillion RMB, a 2.3% increase. Trade with Latin America, Africa, Central Asia, and Central and Eastern Europe grew by 7.2%, 6.1%, 7.2%, and 7.5%, respectively. Imports from Belt and Road Initiative countries totaled 9.86 trillion RMB, up 2.7%.

Prices of tungsten products on January 15, 2024

Picture of ferro tungsten 

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

• Next >