China Tungsten Price Continued to Remain Stable in the Second Half of May 2023

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continued to remain stable in the week ended on Friday, May 26, 2023 as most market participants tended to stabilize the market after the release of long-term contract prices from listed tungsten enterprises. 

In the tungsten concentrate market, the confidence of miners was relatively stable and thus their offers for concentrate also stabilized at about $18,615.0/ton. Downstream smelters were not active in proactively purchasing raw materials, and the momentum of market trading was slightly insufficient. 

In the APT market, smelters mainly took a watchful stance and stabilized their APT export offers. Under the influence of the raw material market during the week as well as the release of bid prices of large companies, the market kept quiet overall. 

In the tungsten powder market, the divergence between the upstream and downstream of the industrial chain continues, and it is difficult to increase the volume of market transactions. Recently, the market performance of tungsten powder and tungsten carbide has been mainly stable, and some parts have fluctuated slightly due to the pressure of shipments. Traders waited and saw the consumption situation of alloy and other tungsten products, it is hard to say pessimistic or optimistic in general.

In terms of news, Zhang Ming, deputy general manager of the Shanghai Futures Exchange, said at the "20th Shanghai Derivatives Market Forum" on the 25th that this year is the start of a new round of strategic planning for the Shanghai Futures Exchange, and the Shanghai Futures Exchange will increase its position. They will identify the correct positioning, integrate into the country's key strategic goals, and play a more important role in serving key areas and key links of high-quality economic development, including improving the product sequence, taking the opportunity of implementing the registration system for the listing of futures varieties, accelerating the listing of alumina futures, promoting the research and development of futures varieties such as aluminum alloy, magnesium, and tungsten, and escorting the high-quality development of China's nonferrous metal industry to ensure "price".

Prices of tungsten products on May 29, 2023

Picture of tungsten acid 

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