China Tungsten Price Continued to Stabilize in the Middle of April 2023

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was stable in the week ended on Friday April 14, 2023 affected by the continued weakness in the demand side. Some smelters reduced their production properly in order to stabilize market price and the whole market was relatively weak.

The tungsten concentrate market has a strong sentiment for market stability, and the bottom of the tungsten product market dominated by the mining end is stable. With the continuous consumption of low-level resources in the market, merchants are seeking opportunities of price redound. The recent market will be in a stalemate and price is now hovers around $17,692.3/ton. 

The APT market has been stable, traders and downstream customers are not very enthusiastic about purchasing goods, and the sentiment of entering the market for bargaining still exists. However, the risk aversion sentiment of smelters has risen, and the willingness of cost-supporting merchants to give up profits is not high. The APT price is mainly stable at about $302.5/mtu. 

Confidence in the tungsten powder market is divided. The main confidence comes from the transmission of a relatively strong atmosphere in the tungsten raw material market, as well as the industry's optimistic expectations of downstream repairs; the main worries come from the risk of a recession in the international economic situation, as well as concerns about the rise of trade protectionism and anti-globalization trends. Therefore, the alloy market and the tungsten powder market have a lot of transactions, and the negotiation is mainly weak. 

On the macro level, according to data from the General Administration of Customs in March, the total value of foreign trade imports and exports was 3.71 trillion yuan, a year-on-year increase of 15.5%. Among them, exports were 2.16 trillion yuan, a year-on-year increase of 23.4%; imports were 1.55 trillion yuan, a year-on-year increase of 6.1%. From January to March, the total value of foreign trade import and export was 9.89 trillion yuan, a year-on-year increase of 4.8%, of which exports were 5.65 trillion yuan, a year-on-year increase of 8.4%; imports were 4.24 trillion yuan, a year-on-year increase of 0.2%. ASEAN continues to be China's largest trading partner, with imports and exports to ASEAN of 1.56 trillion yuan, a year-on-year increase of 16.1%, accounting for 15.8% of China's total foreign trade value. Imports and exports to the EU, the United States, Japan and South Korea were 1.34 trillion yuan, 1.11 trillion yuan, 546.41 billion yuan and 528.46 billion yuan respectively.

Prices of tungsten products on April 17, 2023

Picture of tungsten trioxide 

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