China’s Xianglu Tungsten Raised Long-term Contract Prices for the First half of January 2023

Analysis of latest tungsten market from Chinatungsten Online

In the last trading week before the Chinese Spring Festival, the tungsten market was stable overall. The offers on the raw material side remained firm, the holiday atmosphere on the consumer side was getting stronger, and the market transactions tended to be weak. 

The peak of the first round of epidemic infection in China has passed. As the disturbance of the epidemic to economic growth and consumption recovery weakens, the demand momentum in the tungsten market is expected to recover. Market participants are generally optimistic about the market outlook, but they are still worried about the possible second round of infection peaks caused by the Spring Festival travel rush, as well as the impact of various uncertainties in overseas markets.

China’s Xianglu Tungsten released its long-term contract prices for the first half of January 2023: 55% black tungsten concentrate price was $17,692.3/ton, up $230.8/ton; 55% scheelite concentrate price was $17,538.5/ton, up $230.8/ton; APT price was $307.7/mtu, up $3.5/mtu compared with the second half of December, 2022. 

On the macro level, according to the data of the General Administration of Customs, in December 2022, the total value of imports and exports was 3.77 trillion yuan, a year-on-year increase of 0.6%. Among them, exports were 2.16 trillion yuan, a year-on-year decrease of 0.5%; imports were 1.61 trillion yuan, a year-on-year increase of 2.2%; the trade surplus was 550.11 billion yuan. In 2022, the total value of imports and exports will be 42.07 trillion yuan, a year-on-year increase of 7.7%, and it has maintained its position as the largest country in goods trade for six consecutive years. Among them, exports were 23.97 trillion yuan, a year-on-year increase of 10.5%; imports were 18.10 trillion yuan, a year-on-year increase of 4.3%; the trade surplus was 5.86 trillion yuan.

Prices of tungsten products on January 17, 2023

Picture of tungsten ore 

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