China’s Xiamen Tungsten Increased APT Bid Price for the Second Half of April 2023

Details: Category: Tungsten's News; Published on Wednesday, 19 April 2023 19:26

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price has ended its downward trend and started to increase in the week began on Monday April 18, 2023 due to the following reasons:

First, Jiangxi province, the main producing area of tungsten raw materials, started a new round of environmental inspection, reminding the market of supply and cost pressures; second, due to rising temperatures and thunderstorms in the south, mining and supply become more difficult; third, due to the entry of concentrated replenishment orders at the alloy end, the market demand performance was boosted; fourth, due to the new round of tungsten enterprises’ long-term contract price increases, the industry’s participation confidence was stimulated.

It is worth noting that the current recovery signal of the consumer market is still unclear. Under the circumstances that the external environment is still complex and unstable, the market risk appetite is low, and the release potential of demand is suppressed. Therefore, the actual rebound cycle and magnitude of tungsten prices are still open to discussion. Now market participants continue to pay attention to the adjustment of market fundamentals, as well as changes in various risk factors such as high external inflation, US dollar interest rate hikes, and local geopolitical conflicts.

China’s Xiamen Tungsten quoted APT bid price at $304.2/mtu for the second half of April, up $2.6/mtu compared with the first half of this month.

In terms of news, the first batch and the second round of the third batch of ecological environmental protection inspections in Jiangxi Province in 2023 were launched a few days ago. A total of 4 inspection teams were formed to carry out provincial ecological environmental protection in Jingdezhen, Xinyu, Ganzhou and Fuzhou. Inspector, stationed in the cycle from April 12 to May 6, 2023.

Prices of tungsten products on April 19, 2023

China tungsten price image