China Tungsten Price Rose Before Inhibition in the First Quarter of 2023

Analysis of latest tungsten market from Chinatungsten Online

In the first quarter of 2023, China tungsten price generally showed a trend of rising first and then falling, mainly due to the negative change in market fundamentals and the continued impact of uncertainties such as international economic pressure, geopolitical issues and extreme weather events. 

The market’s consumption initiative is not high, and the price decline has been relatively slowed down by the support of miner’s rised sentiment.

In January, due to mine maintenance and production reduction before and after the Spring Festival, and the easing of the pressure related to the epidemic, the market supply became tight and demand was expected to be good. Driven by the recovery trend of the domestic economy and consumption, the tungsten market showed an upward trend.

In February, after the Lantern Festival, the smelters resumed normal operations one after another, but the recovery of demand did not see a significant recovery, and the bargaining atmosphere in the market increased, which affected the correction after the market peaked.

In March, mine production and operation resumed further after the two sessions, and the market supply continued to increase. However, there was no clear positive release on the demand side, and the impact of thunderstorms in the overseas banking industry further weakened consumer confidence. The price of tungsten products was under pressure and fell.

Prices of tungsten products on April 3, 2023

Picture of tungsten ore 

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >