China Tungsten Price Stabilizes in the First Trading Day of June 2023

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues to stabilize in the first trading day of June 2023 when the willingness to trade in the market has not changed significantly. The holders seek to sales products, but there are few profit givers. 

Intermediate smelters cautiously avoid the risk of price inversion, and temporarily stabilize their offers along with them; The pace of receiving goods by downstream end users is slow. Due to insufficient demand momentum, they are not willing to take the initiative to receive high-end raw materials. At the beginning of the month, the overall transaction in the tungsten market is expected to continue to be organized according to demand, and the transaction atmosphere was light, waiting for the update of directional news.

Macroscopically, according to the International Bureau of Statistics, China’s manufacturing purchasing managers’ index (PMI) was 48.8% in May, down 0.4 percentage points month-on-month, lower than the critical point; the non-manufacturing PMI was 54.5%, down 1.9 percentage points month-on-month, still It was higher than the critical point; the comprehensive PMI was 52.9%, a decrease of 1.5 percentage points month-on-month, and continued to remain in the boom range.

Prices of tungsten products on June 2, 2023

Picture of tungsten electrode 

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