China’s Zhangyuan Tungsten Increased its Long-term Contract Prices for the First half of January 2023

Analysis of latest tungsten market from Chinatungsten Online

The tungsten carbide powder and ferro tungsten prices keep strong in early January 2023 as participant are mostly optimistic about the outlook based on the incentive measures and repair expectations of the downstream consumer market, superimposed on the first round of price increases by institutions and large companies in 2023. 

China’s Zhangyuan Tungsten released its long-term contract prices for the first half of January 2023: black tungsten concentrate (WO3≥55%) price was $16,911.8/ton, up $441.2/ton; scheelite concentrate (WO3≥55%) price was $16,691.2/ton, up $441.2/ton; 293.3/mtu, up $7.5/mtu compared with the second half of December 2022. 

In the tungsten concentrate market, miners are gradually reducing production to undergo maintenance, plus with the logistics capacity will gradually slow down due to holidays, the overall market resources are rarely released and market offers hover around $17,205.9/ton. 

In the APT market, the cost of raw materials and the long-term contract prices of large enterprises have been raised, and manufacturers are relatively positive about the outlook. Most APT prices stand about $295.8/mtu. 

In the tungsten powder market, the market price has risen with the raw materials, and the merchants intend to test the price to $39.7/kg. However, with the slowdown of the buying and selling rhythm in the market before the festival, the trading activity in the market are becoming more and more low. 

On the macro level, after China optimized and adjusted its epidemic prevention and control measures, major economic organizations and institutions around the world are generally optimistic about China's economic development prospects. The OECD predicts that China's economic growth rate will reach 4.6% and 4.1% in the next two years, while that of the United States is only 0.5% and 1%. The forecast is only 2%; Morgan Stanley predicts that China's economic growth will be between 4.3% and 5.4% in 2023, 10 times that of the United States; UBS predicts that China's GDP growth will reach 4.9% in 2023, and it is still expected to double by 2035.

Prices of tungsten products on January 12, 2023

Picture of tungsten trioxide 

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