China Tungsten Price Showed a Slight Pullback in the Middle of February 2023

Details: Category: Tungsten's News; Published on Monday, 20 February 2023 17:15

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price showed a slight pullback and adjustment trend in the week ended on Friday February 17, 2023 mainly due to the impact of the periodic changes in market supply and demand and emotional adjustments of insiders. The mentality of traders remained rational. Although there were some profit-takings, the room for interest concessions was limited.

In the tungsten concentrate market, the intention of holding goods to stabilize the market is still common, and the high-grade market sticks to the 18,461.5/ton mark. Most purchasers were not willing to trade at high prices and thus market trading was low.

In the APT market, weak raw material side and cautious sentiment of purchasers made APT price decline slightly to $314.6/mtu and trading activity became quiet.

In the tungsten powder market, the short-term effect is not good due to the positive consumer market. As the production inventory of smelters recovers and increases after the festival, the market’s intention to make profits and cash out increases, and the market is stable and accompanied by a decline. However, based on the relatively stable market of tungsten raw materials, the short-term correction space of the market is limited.

In the ferro-tungsten market, the market passively follows the adjustment of the raw material market. Downstream users are cautious in their short-term purchases. The ferro-tungsten market is mainly in a sideways arrangement. We will wait and see the market outlook for steady growth in policy and infrastructure and other consumption forces to support steel demand.

In the cemented carbide market, the on-site trade shows a stable recovery trend, and the prices of enterprises’ products generally increase due to the pressure of raw material costs after the middle of the year. However, the recovery of the market economy and the release of actual consumption need a certain period, and another important raw material, cobalt powder, is superimposed. The short-term impact of feeding back the raw material market is insufficient.

Prices of tungsten products on February 20, 2023

APT price image