China’s Xianglu Tungsten Declined Its Long-term Contract Prices for April 2023

Details: Category: Tungsten's News; Published on Tuesday, 18 April 2023 18:54

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continued its stability because there was no obvious change in the fundamentals of supply and demand in the market.

With the increase of rain in the south of China and stricter environmental protection and safety supervision, the volume of tungsten raw material resources will decrease, and the mentality of cost firmness will gradually increase. However, the current positive signal of market demand is still not clear, and the buying initiative of industry players is not active.

According to Chinatungsten Online, China’s Xianglu Tungsten released its long-term contract prices for April: 55% black tungsten concentrate price was $17,692.3/ton, down $76.9/ton; 55% scheelite concentrate price was $17,538.5/ton, down $76.9/ton; APT price was $304.2/mtu, down $2.6/mtu compared with March 2023.

According to the General Administration of Customs, China's foreign trade imports and exports showed strong resilience in the first quarter, with a steady and positive start, laying the foundation for promoting stability and improving quality of foreign trade throughout the year. At present, the weakening of external demand caused by high global inflation and sluggish growth of major economies has had a direct impact on China's foreign trade. At the same time, risks such as protectionism and geopolitics have further increased the instability, uncertainty and difficulties of the global economy. In anticipation, China's foreign trade development will face greater difficulties and challenges. However, we must also see that China's economy has strong resilience, great potential, and sufficient vitality, and its long-term fundamentals remain unchanged. It is believed that as China’s economic operation continues to improve, the positive momentum of foreign trade is expected to continue further.

Prices of tungsten products on April 18, 2023

China APT price image