China Tungsten Price Remained Stable with Rare Deals Concluded in Early April 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price remained stable mainly due to the continued weak market with rare deals concluded. It will still take time for the market economy and consumption to fully recover from partial recovery. 

In the short term, the demand for stocking and replenishment by merchants is weak, and the atmosphere for bargaining in the market is strong.

In terms of news, according to data from the China Construction Machinery Industry Association, in March, major excavator manufacturers sold 25,578 units, a year-on-year decrease of 31%, of which 13,899 were domestic units, a year-on-year decrease of 47.7%; exports were 11,679 units, a year-on-year increase of 10.9%. From January to March, a total of 57,471 excavators were sold, a year-on-year decrease of 25.5%; of which 28,828 were domestic, a year-on-year decrease of 44.4%; 28,643 were exported, a year-on-year increase of 13.3%.

According to a report from the Financial Associated Press, China’s domestic CNC machine tool manufacturers have improved their self-made key components. With the cost-effective advantages of domestic equipment, the downstream orders in the first quarter were relatively good. Some manufacturers reported that the production line was close to full capacity, some manufacturers will even selectively accept downstream orders with higher gross profit margins based on the current tight production capacity. It is expected that the industry as a whole will maintain a growth rate of more than 20% throughout the year.

Prices of tungsten products on April 11, 2023

Picture of tungsten trioxide 

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