This week, tungsten prices continued their downward adjustment. While the market's decline has somewhat slowed, the persistent imbalance between supply and demand has kept trading activity under pressure, with overall market sentiment remaining cautious and driven primarily by immediate needs.
In the tungsten concentrate market, high-grade concentrate prices have held steady at around 135,000 CNY per metric ton. According to statistics from Chinatungsten Online, tungsten concentrate prices have fallen by approximately 14% during this period, with an annual increase of 9.8%. Currently, transaction volumes remain low, with miners offering limited price concessions and demand continuing to be weak.
In the ammonium paratungstate (APT) market, smelter quotations have held steady at around 204,000 CNY per ton. However, actual transaction negotiations are under pressure due to the recent lackluster consumption levels, which have not shown significant improvement. Buyers remain cautious, negotiating prices based on their immediate needs. According to data from Chinatungsten Online, APT prices have decreased by approximately 12.5%, with an annual increase of 12.1%.
In the tungsten powder market, prices have retreated from their peak by about 10.7%, currently stabilizing at around 310,000 CNY per ton, with an annual increase of approximately 13.6%. Tungsten carbide powder prices have declined by about 10.3% from their peak, now stabilizing at around 305,000 CNY per ton, with an annual increase of approximately 13.8%. The powder market is mainly observing the trends in the primary tungsten market and downstream alloy market, with low supply and demand matching, leading to a weak and stable short-term outlook based on immediate needs.
In the ferro-tungsten market, both cost and demand drivers have remained weak since June, suppressing transaction negotiations. However, essential demand support and instability in overseas supply chains persist, resulting in a relatively milder decline. As of July 12, 2024, the price of 70% ferro-tungsten has decreased by 8.2%, stabilizing around 213,000 CNY per ton, with an annual increase of 21%.