China Tungsten Price Moved Down Slightly in Early March 2023

Details: Category: Tungsten's News; Published on Tuesday, 14 March 2023 18:55

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price moved down slightly in the week ended on Friday March 10, 2023 greatly affected by the decline in new guide prices from association and tungsten companies for the first half of this month.

In the tungsten concentrate market, the high-grade offer was stalemate at $18,461.5/ton, and the actual transaction preferred low-level resources. The short-term demand pressure in the market was significant, the circulation of resources was not good, and the supply side of the market was slightly stronger during the two sessions.

In the APT market, the supply and demand pattern were more balanced during the week, and the weak atmosphere at the consumer end affected the shipment of smelters. During the actual transaction consultation on Chinatungsten Online, some merchants reported that a supply chain-related event occurred in an important manufacturer in the main production area, which made it more difficult to purchase APT resources, and the supply and demand situation in the tungsten market may change as a result. The accuracy of this message is subject to further verification.

In the tungsten powder market, the replenishment demand of downstream alloy and other enterprises has not improved significantly yet, powder merchants remain cautious, and the market is slightly weak. The short-term market price will consolidate at around $42.3/kg, and new orders in the market are limited.

On the macro front, according to data from the National Bureau of Statistics, affected by factors such as the decline in consumer demand after the festival and sufficient market supply, China’s consumer price index (CPI) rose by 1.0% year-on-year in February, a drop of 1.1 percentage points from the previous month. In February, the year-on-year increase in CPI fell back more, mainly due to the staggered month of the Spring Festival, and the comparison base of the same period last year was relatively high.

Prices of tungsten products on March 13, 2023

China tungsten price image