Analysis of latest tungsten market from Chinatungsten Online
China tungsten prices showed a stable yet slightly weak trend in the week ended on Friday, September 6, 2024. The decline was driven by lower-than-expected long-term contract prices from tungsten enterprises, increased periodic profit-taking by traders, and the lack of clear demand during the traditional peak season, "Golden September." These factors weighed on market sentiment. However, tight supply at the mining end provided some support, limiting price adjustments for tungsten products, with moderate market activity.High-grade black tungsten concentrate prices consolidated around $20,000.0/ton, supported by tight supply. Downstream demand remained cautious, leading to limited trading volumes.Ammonium paratungstate (APT) prices held steady at around $335.8/mtu, with limited confidence in the "Golden September" demand. Market activity was sluggish, with pricing centered around large tungsten companies' long-term procurement prices.Tungsten powder prices remained stable at $44.6/kg, and tungsten carbide powder at $43.9/kg. Despite strong cost support, demand was slow to recover, leading to continued market stagnation and cautious sentiment.Ferro-tungsten (70% grade) prices remained flat at $30,142.9/ton, with little fluctuation in supply-demand indicators. Market participants adopted a wait-and-see approach, leading to stagnant pricing. Scrap tungsten prices saw a narrow adjustment as increased profit-taking by traders released more market resources. However, downstream consumption was insufficient, weakening overall confidence and widening psychological price gaps as participants awaited clearer market signals.Chinatungsten Online
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