China Tungsten Market Keeps Stable Near the Lunar New Year

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market keeps stable as most market participants are on holidays with the approaching of the Lunar New Year. Market trading now is quiet and price will stabilize in the short term. 

The mainstream offers in the tungsten concentrate market are stable, mining and smelting enterprises are on holiday one after another, superimposed logistics operations are slowing down, there are not many market circulation resources, and the price of high-grade resources is stalemate at around $18,153.8/ton. 

The APT market is arranged sideways. Affected by the high cost and the increasing pressure of logistics and freight during the Spring Festival, some quotations have reached above $312.9/mtu. However, with the decrease of market participants at the end of the year, it is difficult to conclude deals at the level. Most traders will wait and see the recovery of actual consumption after the holiday.

The tungsten powder market has been stable. Traders and downstream customers have left the market one after another, the trading atmosphere in the market is light, and there are few transactions concluded. The tungsten powder market is basically in a state of having prices but no sales. 

On the macro level, according to the National Bureau of Statistics, in 2022, the GDP will be 121.02 trillion yuan, a year-on-year increase of 3%. Among them, the GDP in the first quarter increased by 4.8% year-on-year, in the second quarter by 0.4%, in the third quarter by 3.9%, and in the fourth quarter by 2.9%.

Prices of tungsten products on January 19, 2023

Picture of tungsten rod 

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