China’s Ferro Tungsten Price Is Weak in Early April 2023

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and tungsten carbide powder prices remained stable in early April when sellers would like to sell goods but did not get an effective response from the downstream terminal.

The market sentiment is different - buyers still have a strong bargaining mentality, smelters are cautious to avoid the risk of inversion. The overall market of tungsten is in a weak state and insiders mainly wait and see the further guidance of new guide prices. 

In the tungsten concentrate market, merchants’ offers remained in a relatively ideal state, but the back-end trading sentiment was generally sluggish, which affected the production and sales of tungsten raw materials. The initiative of miners was limited and the volume of transactions was small.

In the APT market, there are many inquiries from downstream users aiming to lower down their purchasing prices, but the raw material sellers are not willing to cut their profits. The start of production and the release of resources in smelters are generally cautious, and the market is dominated by a wait-and-see atmosphere. The APT price is stalemate at around $302.5/mtu with poor liquidity. 

In the tungsten powder market, the current alloy market continues to be under pressure, and the powder market is likely to be in a slightly weak and stable operating range. The short-term price of tungsten powder is consolidating around $41.1/kg. 

In the ferro tungsten market, the slight slack at the raw material end and the trend of production reduction and load reduction of downstream steel mills lead to a weak market transaction situation. The price of 70 ferro-tungsten consolidates at $26,769.2/ton, and the initiative of downstream end users is slightly higher than before. Now most participants wait and see the market supply and demand fundamental adjustments, as well as news of external factors.

Prices of tungsten products on April 7, 2023

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