The Industry Is Optimistic About the Long-term Tungsten Market in the Year of 2023

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten powder prices remain unchanged on Feb. 14, 2023. After the Lantern Festival, the production and operation activities in the market resumed one after another. The profit-taking mentality of the holders increased after the price of tungsten products increased. 

However, because the demand side still needs recovery cycle, the overall trading activity of the tungsten market is limited, and short-term spot transactions will be more negotiated. 

At present, the release of resources in the tungsten concentrate market has increased slightly, but relatively speaking, merchants are still in a strong rised mentality to maintain prices. The market for high-grade tungsten ore continues to consolidate at around $18,769.2/ton; the release of demand in the APT market is limited, and it is a game with high cost factors. The spot market is affected by the profit-taking atmosphere and is stalemate at around $316.4/mtu; the tungsten powder market was affected by the loose atmosphere on the raw material side, and fell back with the rising market. Before the consumption recovery expectation on the cemented carbide side was effectively implemented, the powder market fluctuated relatively passively, and the short-term market price will consolidate at around $42.8/kg. 

The industry is mostly optimistic about the long-term tungsten market expectations: With the increasing concentration of small metals with relatively scarce resources, and the active derivation of related industrial chains to high-tech fields, the pricing power of China's superior resource tungsten will no longer be left behind; Encouraged by the policy of stabilizing growth, domestic demand is expected to continue to expand, and the overall recovery trend of metal prices will not change. At this time, the upward momentum of small metals such as tungsten and molybdenum with stronger supply constraints is relatively strong. The tungsten industry is expected to usher in a long period of continuous high-quality development.

Prices of tungsten products on February 15, 2023

Picture of tungsten acid 

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