China’s Ferro Tungsten Price Stabilizes on Quiet Market

Details: Category: Tungsten's News; Published on Thursday, 13 April 2023 17:59

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten carbide powder prices are unchanged from the previous trading day affected by the continued quiet market and low trading activity of the market participants.

In the tungsten concentrate market, due to the continuous domestic environmental protection, the market supply is relatively stable, supporting the bottom of the market; due to the continuation of the downturn in downstream terminals, it is difficult to conclude deals at high prices in the market, and the pressure on resources is gradually emerging. The offer was stalemate at around $17,692.3/ton.

In the APT market, due to the lack of positive feedback from intermediate traders and downstream users, smelters now take a wait-and-see attitude, and the initiative to make offers is weak. The market is dominated by just-needed transactions, and the mainstream offers continues to refer to the long-term contract prices of enterprises at around $302.5/mtu.

In the tungsten powder market, the operating rate of downstream tungsten products companies has not seen a significant increase, some low-quality inventories have accumulated, and the market demand performance is poor. The tungsten powder market is weak and stable at around $40.9/kg.

On the macro level, the recovery of domestic consumption has not progressed as expected. According to the statistics of the Bureau of Statistics, in March 2023, the national consumer price (CPI) rose by 0.7% year-on-year and decreased by 0.3% month-on-month. On average from January to March, the national consumer price rose by 1.3% over the same period of the previous year. In March, China's industrial producer price index (PPI) fell by 2.5% year-on-year and was flat month-on-month. The purchase price of industrial producers decreased by 1.8% year-on-year, and was flat month-on-month. In the first quarter, the ex-factory price of industrial producers decreased by 1.6% compared with the same period last year, and the purchase price of industrial producers decreased by 0.8%.

Prices of tungsten products on April 13, 2023

China tungsten price image