Chinese Tungsten Prices Remained Stable on December 11, 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, Chinese tungsten prices remained stable, and the market showed limited fluctuations. 

The situation is characterized by a standoff in the fundamental factors, with participants adopting a cautious and observant approach. The year-end stocking expectations of buyers are unclear, leading industry players to maintain a cautious outlook on the future.

The price of tungsten concentrate maintained consolidation at around $17,428.6/ton. The mining side showed a predominant bullish sentiment, while backend purchases were carried out on demand. The coordination between market supply and demand was limited, resulting in relatively low trading activity.

APT (Ammonium Paratungstate) prices held steady around $292.2/mtu. The market's willingness to offer concessions was not high, and traders exhibited some reluctance to engage due to concerns about high prices. Trading activities within the market were cautious, with the mainstream focus referencing enterprise long-term contracts.

The price of tungsten powder stabilized at the level of $38.9/kg. Market trading progress was limited, and the alloy sector faced challenges such as a complex import-export environment, increased competition based on pricing, and reduced consumer purchasing power. Market liquidity was constrained, leading to a consolidating trend in the market.

On the macroeconomic front, according to data from the National Bureau of Statistics, China's Consumer Price Index (CPI) decreased by 0.5% year-on-year in November, with the decline expanding by 0.3 percentage points compared to the previous month. The Producer Price Index (PPI) fell by 3% year-on-year, expanding by 0.4 percentage points compared to the previous month. Overall, domestic price levels remained stable.

Prices of tungsten products on December 12, 2023

Picture of tungsten alloy rods 

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