China Tungsten Price Was Stable in the First Trading Day in April 2023

Details: Category: Tungsten's News; Published on Tuesday, 04 April 2023 17:43

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of April 2023, China tungsten price was temporarily stabilized because most market participants are waiting and seeing the new round of guide prices from institutions and large enterprises.

On the supply side, the supply of raw material resources is relatively stable, and the operating rate of intermediate smelters has slowed down slightly due to shipment pressure; on the demand side, affected by external risk factors, the consumer side lacks significant growth, and buyers continue to negotiate prices on demand, affecting the trading activity of the tungsten market.

In the tungsten concentrate market, downstream buying interest is low, which affects the high-grade concentrate price continue to stabilize at about $17,816.2/ton. The recent heavy rains in Hunan and other major producing areas in China may affect mine output. In addition, the domestic economic fundamentals are expected to be relatively strong in the second quarter, and the bottom of the tungsten market is expected to strengthen.

In the APT market, under the condition of relatively low operating rate and increasing inventory pressure, the trading atmosphere in the market is sluggish. The industry pays attention to the introduction of a new round of long-term contract prices by large tungsten companies. The recent market price has stalemate at about $304.2/mtu.

In the tungsten powder market, terminal consumption is still sluggish, smelting enterprises are running fewer orders and accumulating warehouses, paying attention to the changes in the external multi-short environment and the recovery status of demand in the market. The market price stands at about $41.2/kg.

Prices of tungsten products on April 4, 2023

China tungsten price image