China Tungsten Price Stabilizes After the Holiday of Labor Day

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price stabilizes in the first trading day after the holiday of Labor Day and most market participants are waiting for the new guidance from listed tungsten companies.

At present, high-grade tungsten concentrate price hovers around $18,461.5/ton, and manufacturers wait and see the follow-up of downstream demand. Influenced by environmental protection pressure and seasonal factors recently, market resources have limited room for increasing, and the holders have a strong intention to support the market. 

In the APT market, traders aggressively offered offers to $321.6/mtu with no deals concluded. The impact of market cost is significant, downstream prudence continues to hinder, and the overall market performance is priceless. Participants still have differences in expectations for the market outlook.

In the tungsten powder market, the psychological price of merchants is generally at $42.3/kg. However, the decline in the prosperity of the manufacturing industry shows that the demand for tungsten products is still under pressure. Traders are not very enthusiastic about active purchase and sales, and they are cautious in negotiating actual orders.

According to the National Bureau of Statistics, China's Manufacturing Purchasing Managers Index (PMI) was 49.2% in April, down 2.7 percentage points month-on-month, lower than the critical point, and the level of manufacturing prosperity fell. Among them, the production index was 50.2%, a month-on-month decrease of 4.4 percentage points; the new order index was 48.8%, a month-on-month decrease of 4.8 percentage points; the raw material inventory index was 47.9%, a month-on-month decrease of 0.4 percentage points; the employment index was 48.8%, a month-on-month decrease of 0.9 percentage points percentage points; supplier delivery time index was 50.3%, down 0.5 percentage points from the previous month.

Prices of tungsten products on May 5, 2023

Picture of tungsten needles 

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