Analysis of latest tungsten market from Chinatungsten Online
China tungsten prices stabilized and consolidated in early January 2025. The raw material side remained firm, while the demand side continued to show a sluggish trend. Under cautious market sentiment, transaction negotiations have not yet increased significantly. Pre-Spring Festival stocking expectations remain to be confirmed, with attention this week mainly focused on a new round of price quotes from institutions and tungsten enterprises.The price of 65% black tungsten concentrate is reported at about $20,281.7/ton. The mining side maintains the view of tight supply and high prices, while consumer acceptance of high prices is limited. Differences in market psychological price expectations persist, and transactions are negotiated based on actual needs.The price of ammonium paratungstate (APT) is reported at about $337.4/mtu. Recently, there has been significant support from the cost side, but the demand side continues to show weakness. Market transactions remain in a stalemate, and trading sentiment is cautious.The price of tungsten powder is reported at about $44.6/kg, and tungsten carbide powder is reported at about $43.9/kg. Recently, cost-driven pressures have increased, but demand resistance persists. The room for actual price increases is limited, and overall buying and selling enthusiasm is moderate.The price of 70% ferro-tungsten remains steady at around $30,422.5/ton. Pre-Spring Festival market buying enthusiasm has cooled, coupled with a supply-demand stalemate in the tungsten industry chain. Participants adopt a cautious and wait-and-see attitude, with negotiation focus remaining flat.The price of scrap tungsten remains stable in line with market trends. Encouraged by information from the raw material side and policy measures, optimism in the industry has increased. However, current consumer demand remains insufficient, and actual market confidence in transactions is limited, with sales activity stagnant.From a macro perspective, the National Development and Reform Commission stated: Looking ahead to 2025, the advantages of China’s super-large-scale consumer market remain unchanged. The supporting conditions and fundamental trends for positive consumption growth remain unchanged. The consumer market will continue to exhibit stable growth. The government will implement special actions to boost consumption, increase the issuance of ultra-long-term special treasury bonds, and expand the scope of support for "two key" construction projects.
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