China’s Xianglu Tungsten Raised Long-term Contract Prices for December 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, Chinese tungsten prices remained stable when the market continued to be influenced by the ongoing negotiation dynamics between supply and demand fundamentals and spot transactions. 

The momentum for adjustments before the 2024 New Year is limited, with a wait-and-see attitude towards the upcoming quotations from major tungsten enterprises.

China’s Xianglu Tungsten released its long-term contract prices for December 2023: 55% black tungsten concentrate was quoted at $17,071.4/ton, up $357.1/ton; 55% scheelite concentrate was quoted at $17,214.3/ton, up $357.1/ton; APT was quoted at $291.4/mtu, up $4.8/mtu compared with November 2023. 

On the macro level, according to statistics bureau data, in November, China's year-on-year growth in value-added for industries above a designated size was 6.6%, with a month-on-month growth of 0.87%. Retail sales of consumer goods reached 42.5 trillion yuan, representing a year-on-year increase of 10.1%. The national urban surveyed unemployment rate was 5.0%, remaining unchanged from the previous month. From January to November, the country's fixed asset investment (excluding rural households) was 46.08 trillion yuan, with a year-on-year growth of 2.9%. Private investment decreased by 0.5%.

Prices of tungsten products on December 19, 2023

Picture of tungsten putty 

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