China Tungsten Price Kept Firm with the Approaching of the Chinese Spring Festival

Details: Category: Tungsten's News; Published on Monday, 16 January 2023 16:57

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price kept stable and firm in the week ended on Friday January 13, 2022 when most market participants remain cautious sentiment with the approaching of the Chinese Spring Festival.

The price of tungsten concentrate is consolidating at around $17,205.9/ton. The high-grade resources in the market are tight and the prices are high, and the low-grade resources are prone to profit-making shipments. After this week, suppliers are generally on vacation, the market logistics capacity will gradually weaken, and the on-site trading will slow down.

The APT price is consolidating around $295.8/mtu. The smelters mainly intend to support the market, the purchasers enter the market gradually during the holidays, and the circulation of market resources decreases. The short-term market will continue to have prices but no sales.

The price of tungsten powder is hovering around $39.6/kg. There are still some intentions to explore higher levels. However, after the pre-holiday purchasers complete the stocking, there are few new orders in the market. The market consumption momentum is limited, and the market price is stable on the whole.

In the cemented carbide market, the cost of tungsten raw materials is firm, but the cobalt raw material market is in a downturn trend. Downstream terminals are facing opportunities for domestic economic recovery and pressure from overseas economic recession, as well as unstable factors such as international geopolitical conflicts and extreme weather events. Market participants are divided in confidence.

On the macro level, under the background of high global inflation in 2022, China's prices will remain stable. According to statistics from the Bureau of Statistics, China's CPI (Consumer Price Index) will rise by 2% year-on-year in 2022, successfully completing the annual price control target; PPI (Price Index of Industrial Producers) will rise by 4.1% year-on-year. In December 2022, the CPI was flat month-on-month and rose 1.8% year-on-year; the PPI fell 0.5% month-on-month and 0.7% year-on-year.

Prices of tungsten products on January 16, 2023

China tungsten price photo