China’s Tungsten Carbide Powder Price Keeps Firm on Tight Supply

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten carbide powder and tungsten bar prices continue to be stable on May 10, 2023 affected by the relative tight supply of raw materials but continued weakness in the demand side. 

In the tungsten concentrate market, the sentiment of miners is still relatively strong, but limited orders in the market have affected the confidence of some merchants. At present, the price of high-grade tungsten concentrate is stalemate at about $18,769.2/ton. 

In the APT market, it is difficult for smelters to operate, and buyers negotiate prices according to their needs. However, when the cost of raw materials is relatively stable, merchants have limited room for profit-making, and the market transaction price is stalemate at about $316.4/mtu.

In the tungsten powder market, the active atmosphere in the upstream and the trading confidence in the market have weakened. The stocking cycle of downstream manufacturers has temporarily come to an end, and buyers are not willing to take the initiative to replenish inventory. The offer for tungsten powder is stalemate at around $42.8/kg with limited deals concluded. 

On the macro front, according to data from the General Administration of Customs, China's total import and export value in April was 3.43 trillion yuan, a year-on-year increase of 8.9%. Among them, exports were 2.02 trillion yuan, a year-on-year increase of 16.8%; imports were 1.41 trillion yuan, a year-on-year decrease of 0.8%. From January to April, the total import and export value was 13.32 trillion yuan, a year-on-year increase of 5.8%, of which, exports were 7.67 trillion yuan, a year-on-year increase of 10.6%; imports were 5.65 trillion yuan, a year-on-year increase of 0.02%. ASEAN, the European Union, the United States, and Japan are my country's top four trading partners, with imports and exports of 2.09 trillion yuan, 1.8 trillion yuan, 1.5 trillion yuan, and 731.66 billion yuan; respectively, an increase of 13.9%, an increase of 4.2%, a decrease of 4.2%, and down 2.6%.

Prices of tungsten products on May 11, 2023

Picture of tungsten trioxide

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