Tungsten Market Prices Remain Stable as Sentiment Takes the Lead [SMM Tungsten Daily Review]

Published: Dec 27, 2024 14:52

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[SMM Tungsten Daily Review: Tungsten Market Prices Stable, Sentiment Leads] As month-end approaches, buyer market inquiries have increased, with slight growth in actual procurement. Quotations for 65% black tungsten concentrate remained stable at 143,000 yuan/standard mt, with suppliers showing strong confidence. Smelters, affected by high costs, showed low enthusiasm for quoting APT bulk cargo, with actual transaction negotiations concentrated in the 210,500-211,000 yuan/mt range. The downstream hard alloy market did not see a significant increase in procurement enthusiasm, and tungsten powder prices remained stable as a result, with market circulation steady. Overall, the tungsten market's supply and demand remain in a state of contention. Although tungsten prices have stopped falling, their short-term upward potential remains limited.

SMM, December 27:

Today, the tungsten market remained in a consolidation phase, with tungsten prices showing no upward trend and downstream market transactions relatively stable.

【Price Quotations】

65% Black Tungsten Concentrate: 142,000-143,000 yuan/mtu

55% Black Tungsten Concentrate: 140,000-141,000 yuan/mtu

APT: 209,500-210,500 yuan/mt

Tungsten Powder: 313-316 yuan/kg

Tungsten Carbide Powder: 308-311 yuan/kg

70% Ferro-Tungsten: 213,000-215,000 yuan/mt

80% Ferro-Tungsten: 219,000-221,000 yuan/mt

【Market Dynamics】

As month-end approaches, buyer inquiries have increased, with slight growth in actual procurement. The quotation for 65% black tungsten concentrate remained stable at 143,000 yuan/mtu, and suppliers were confident.

Smelters, affected by high costs, showed low enthusiasm for quoting APT spot cargoes, with actual transaction negotiations concentrated in the 210,500-211,000 yuan/mt range.

The downstream hard alloy market did not see a significant increase in procurement enthusiasm, keeping tungsten powder prices stable, with market circulation remaining steady.

Overall, the tungsten market's supply and demand remain in a state of contention. Although tungsten prices have stopped declining, their short-term upward potential remains limited.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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