China’s Xianglu Tungsten Stabilized its Long-term Contract Prices for the First Half of September

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues its stability after the holiday of Mid-Autumn Festival as the market outlook remains uncertain. On the one hand, sellers are reluctant to cut profits given the pressure of high costs; on the other hand, due to weak demand, purchasers mainly take a watchful stance. 

China’s Xianglu Tungsten released its long-term contract prices for the first half of September: 55% black tungsten concentrate price was $17,846.2/ton, unchanged from the second half of August; 55% scheelite concentrate price was $17,692.3/ton, unchanged from last time; APT price was $309.4/mtu, up $0.9/mtu compared with the second half of last month. 

In the tungsten concentrate market, the recent epidemic in Ganzhou and other places has repeatedly suppressed the production capacity of mining enterprises. With the approaching National Day and the 20th National Congress, the release of market resources is limited. Holders mainly intend to stabilize the market and hope for price increase. However, due to the lack of demand, the trading activity on the market is not high, and there is still a risk of price decline in overall market. The short-term high-grade resources will stalemate at around $18,153.8/ton with quiet trading. 

In the APT market, due to the deadlocked supply and demand, smelting factories are cautiously avoiding the rise of price inversion. The export price of APT will hover around $309.4/mtu in the short term. 

In the tungsten powder market, there are some differences in the trading sentiment in the market. Some of them would like to stabilize the market due to high cost while others consider profit-taking due to the weak consumption for cemented carbide and its downstream products. Under the background of high inflation, the risk of economic recession and the repeated pressure of the epidemic continuing to affect the release of market supply and demand and logistics and transportation, the market is caught in heavy wait-and-see atmosphere.

Prices of tungsten products on Sep. 14, 2022

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