China Tungsten Price Edged Higher in Early February 2023

Details: Category: Tungsten's News; Published on Monday, 13 February 2023 18:16

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price edged higher at the beginning of the week began on Monday Feb. 6, 2023 and then stabilized when the weekend approached with the impact of rising new guide prices for the first half of this month as well as the strong earthquake in Turkey.

The former stimulates traders to support the market, and the price of tungsten raw materials rises, but the mentality of partial profit-taking is gradually emerging; the latter will cause a series of chain effects on the recovery of the international economy and the stability of the global supply chain. It is reported that in the context of the energy crisis, Europe regards Turkey as an energy strategic center, and the local economic center and important ports were damaged by the earthquake.

In the tungsten concentrate market, high-grade concentrate price hovered around $18,769.2/ton. Some traders tended to increase their offers while others took a watchful stance; in the APT market, smelting factories made their offers to $321.6/mtu, which was mainly based on the risk-avoiding behavior of the market under the pressure of the cost side; tungsten powder suppliers are trying to make offer to $43.1/kg but the demand is not as strong as expected, and thus the price is hard to continue to increase.

Prices of tungsten products on February 13, 2023

China tungsten price photo