China’s Zhangyuan Tungsten Raised Long-term Contract Prices for the Second Half of May 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price was stable when the market remains quiet as usual. Miners and smelting factories still have strong rised mentality but the whole trading activity in the market remains tepid.

China’s Zhangyuan Tungsten released its long-term contract prices for the second half of May 2023: black tungsten concentrate (WO3≥55%) price was $18,230.8/ton, down $76.9/ton; scheelite concentrate (WO3≥55%) price was $18,000.00/ton, down $76.9/ton; APT price was $313.8/mtu, down $0.9/mtu from the first half of this month. 

In terms of news, Zhangyuan Tungsten Industry Co., Ltd. said in an agency survey that it currently produces 15,000 tons of tungsten powder and 13,100 tons of tungsten carbide powder annually. The price fluctuation of powder products is affected by the fluctuation of the price of tungsten concentrate. At present, the price of tungsten concentrate has reached a recent high. In 2023, China's economy is expected to recover, and we continue to be optimistic about the trend of tungsten prices. Earlier, when China Tungsten High-tech accepted investor surveys, it said that the price of tungsten ore in the first quarter of 2023 will still rise from the previous quarter. 

From the perspective of price trends, due to the increasingly obvious momentum of economic recovery and the strong expectation of a better demand side, the price of tungsten ore will increase during the year. It is more likely that the price of tungsten ore will maintain a steady rise.

Prices of tungsten products on May 23, 2023

Picture of tungsten acid 

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