China’s Xianglu Tungsten Declined Long-term Contract Prices for March 2023

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices continue to be weak on March 16, 2023 due in part to the weakness both in the supply and demand sides. 

From the perspective of the supply side, the supply of tungsten raw materials has been increased after the two sessions, but sales are still limited. The actual consumption sentiment is not high. Affected by the complex external environment, the foundation for the recovery of the market economy is not yet solid, and the release potential of consumption is restrained. On the whole, the supply and demand of the tungsten market has been under pressure in the near future, and the cost factor limits the bearish space of the market, but the risk of uncertainty in the market outlook is still prominent.

China’s Xianglu Tungsten released its long-term contract prices for March: 55% black tungsten concentrate price was $17,769.2/ton, down $384.6/ton; 55% scheelite concentrate price was $17,615.4/ton, down 384.6/ton; APT price was $306.8/mtu, down $6.1/mtu compared with February 2023. 

On the macro level, data from the National Bureau of Statistics show that the national economy showed a trend of stabilization and recovery from January to February. The added value of industrial enterprises above designated size increased by 2.4% year-on-year, 1.1 percentage points faster than December 2022; the two-year average growth rate was 4.9%. In terms of three major categories, the added value of the mining industry increased by 4.7% year-on-year, the manufacturing industry increased by 2.1%, and the production and supply of electricity, heat, gas and water increased by 2.4%.

Prices of tungsten products on March 17, 2023

Picture of tungsten acid  

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