Tungsten Market: Supply-Demand Stalemate, Focus on China-US Tariff Dynamics

Details: Category: Tungsten's News; Published on Friday, 11 April 2025 16:05

Analysis of latest tungsten market from Chinatungsten Online

This week, tungsten prices showed overall stability with slight increases, but trading activity remained subdued.

The market exhibited three key characteristics: strong supply support, weak demand recovery, and significant macroeconomic disruptions. Traders adopted a cautious stance, with transaction focus aligned to quotes from institutions and tungsten enterprises released during the week, while closely monitoring the China-US tariff dynamics.

65% Black Tungsten Concentrate: Priced at $20,281.7/ton, supply-side factors provided the main momentum, but transaction activity was constrained by downstream wait-and-see sentiment, with the market yet to fully break through upper resistance levels.

Ammonium Paratungstate (APT): Priced at $340.6/ton, the price gap between spot and long-term contracts intensified market caution. Participants showed limited trading initiative, and industry operating rates saw some adjustments.

Tungsten Powder: Priced at $44.8/kg, and Tungsten Carbide Powder at $44.1/kg, both affected by conflicting supply-demand dynamics and a complex international political-economic environment. Alloy buyers remained cautious, sticking to a need-based trading strategy.

70% Ferro Tungsten: Priced at $30,845.1/ton, supported by relatively solid supply-demand fundamentals. However, macroeconomic uncertainties, particularly unclear international trade conditions, limited upward price exploration.

Scrap Tungsten: Prices stabilized sideways, with firm cost transmission in the market. However, demand-side pressures persisted, and traders showed mixed confidence, with short-term caution prevailing.

Cobalt Powder: Adjusted to $37.7/kg, with a growing bearish market sentiment due to insufficient demand momentum and ongoing raw material capacity expansion (excluding policy factors in the DRC). Industry players expressed concerns over substitution risks for cobalt products and policy uncertainties, putting downward pressure on market expectations and loosening price trends.

Prices of tungsten products on April 11, 2025