Weak Tungsten Prices, Volatile Cobalt Market

Details: Category: Tungsten's News; Published on Wednesday, 26 February 2025 20:16

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices have exhibited a weak trend, accompanied by negative market sentiment.

This is primarily attributed to the recovery cycle of the tungsten raw material supply chain since the first lunar month of the Chinese calendar. However, the demand side remains sluggish, particularly as exports have been affected by certain policies. Consequently, pressures from the overall imbalance between supply and demand in the tungsten market have intensified, leading traders to adopt a cautious approach. In the second half of February, several representative tungsten enterprises in China reduced their long-term contract prices, which also exerted a bearish influence, rendering the overall tungsten market relatively weak.

Regarding the cobalt market: The Democratic Republic of the Congo has announced a four-month suspension of cobalt exports to address oversupply pressures and support prices. Industry insiders express concerns that since there is no export ban on copper, and cobalt is one of the main by-products of copper, local cobalt inventories will continue to grow. As a result, the international cobalt market may face volatility risks once the ban is lifted. As of press time, cobalt powder prices have declined by 74% since their peak in April 2022.

Prices of tungsten products on February 26, 2025