China Tungsten Price Was Weak at the End of February 2023

Details: Category: Tungsten's News; Published on Monday, 27 February 2023 18:15

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was weak in the week ended on Friday February 24, 2023 because end users remained low buying appetite and sellers still had rised mentality. The market was in a stalemate on the whole.

In the tungsten concentrate market, the holders are facing certain shipping pressure, but the intention to sell at low price is not high. The high offers stand at about $18,461.5/ton and most transactions concluded at mainstream prices. Most insiders are waiting and see the possible external intervention measures, and the continuous recovery of terminal buying momentum.

In the APT market, the cost-side support is still strong, the intermediate smelting enterprises cautiously avoid the risk of inversion, and the consumer-side consuming interest is not high. The new orders are mainly referring to the new long-term contract prices of listed tungsten companies.

In the tungsten powder market, macroscopical instability combined with a relatively slow pace of consumption recovery, the enthusiasm for downstream demand in the market is not high, and the looseness of the raw material market in the early stage has increased buyers’ bargaining sentiment to a certain extent. The market spot negotiations are deadlocked, and the market is consolidating at about $42.6/kg.

Prices of tungsten products on February 27, 2023

China tungsten price image