China’s Tungsten Powder Price Increased After the Lunar New year Holiday

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market has made a steady start after the holiday of the Lunar New year. First, with the impact of the holiday, now the market resources are tight and thus suppliers continue to raise their offers. 

Second, given the the cost factor, and cemented carbide companies have increased prices. However, due to the weak cobalt price and the unclear demand side, the market is actually still waiting and watching; third, with the reduction of the impact of the epidemic on market economic activities and the successive implementation of domestic economic stabilization promotion fee measures, the overall business environment of enterprises has improved. Market confidence has been boosted, but concerns about the uncertainty of overseas markets remain.

In the tungsten concentrate market, some high-grade offers reached 18,461.5/ton without deals concluded; the APT market has been driven by the cost side to reach the $312.9/mtu mark and tungsten powder price increased to $42.2/kg with heavy wait-and-see atmosphere in the market.

The UN's "World Economic Situation and Prospects in 2023" report shows that due to the confluence of multiple crises, the outlook for the world economy is bleak and uncertain. It is expected that the global economic growth rate will slow down to 1.9% in 2023. However, China's economy is expected to drive regional economic growth, and China's economic growth is expected to accelerate to 4.8% in 2023.

Prices of tungsten products on January 31, 2023

Picture of tungsten filament 

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