China Tungsten Price Stabilized with the Approaching of the New Year’s Day Holiday

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price was temporarily stable. With the approaching of the New Year’s Day holiday after China easing ‘Zero Covid’ restrictions, the data of people booking travel during the holiday has increased significantly. 

However, as far as the manufacturing industry is concerned, the overall market consumption sentiment is not good during the rapid spread of the epidemic. The tension in logistics transportation capacity has intensified, the operation and the pace of sales of tungsten product manufacturers have slowed down, and the spot transactions have continued to remain deadlocked. 

In the tungsten concentrate market, the outflow of low-level resources from mining and smelting enterprises is relatively small, and the overall market sentiment is dominated by reluctance to sell and hope for growth. However, the enthusiasm of buyers to enter the market is limited. Now the price is about $16,911.8/ton. 

In the APT market, the cost pushes manufacturers to keep up with the rising, and the focus of market negotiations is stalemate at around $290.8/mtu. The downstream end users have limited purchasing and stocking emotions, and they are cautious in negotiating on demand. The upstream and downstream of the industrial chain generally present a weak supply and demand situation, and traders mostly wait and see.

In the tungsten powder market, under the pressure of the domestic epidemic, consumers entered the market cautiously. At the same time, cost pressure, logistics resistance and holiday atmosphere came one after another. The production and sales of the powder market were weak, and price hovers around $39.0/kg.

Prices of tungsten products on December 27, 2022

Picture of tungsten trioxide 

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