China Tungsten Price Was Weak in the Middle of May 2023

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was weak in the week ended on Friday May 19, 2023 affected by the negative sentiment of market participants as well as the decline in new guide prices from listed tungsten companies. 

In the tungsten concentrate market, under the attitude of miners who are reluctant to sell and want to support the market, there are not many new spot stocks in the market, especially the supply of low-end resources. The inquiry of downstream customers has not improved significantly. The market psychological price is not consistent, and merchants’ offers for 65% black tungsten concentrate is temporarily stable at around $18,615.4/ton. 

In the APT market, it is difficult to find low-level raw materials, and there are many downstream resistances to high-level offers. Market price hovers around $312.9/mtu and market participants now take a watchful stance for the recovery of the market economy and domestic demand, as well as the update of import and export data.

In the tungsten powder market, the purchase and sales of cemented carbide products are not active. Affected by overseas economic pressures, some consumption expectations have been revised downwards, resulting in buyers' low acceptance of high-end raw materials. In the short term, the market generally maintains price negotiation on demand. The powder market is stalemate at around $42.3/kg, and the transaction is tepid.

Prices of tungsten products on May 22, 2023

Picture of tungsten powder

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