China Tungsten Market Showed a Trend of Sideways in May 2023

Analysis of latest tungsten market from Chinatungsten Online

In May 2023, China tungsten market generally showed a trend of sideways after a slight correction. 

The weak state in the first half of the month was mainly due to the fact that the market demand after the May Day holiday was not as good as expected, and the early-stage rising market failed to materialize, which led to weak confidence in smelters and the prices of tungsten chemicals and tungsten powder materials are under pressure. 

However, due to the weak willingness of the mining enterprises to cut profits, the relative stability of the supply side and the cost side supporting the price of tungsten products to gradually stabilize, the tungsten market did not fluctuate significantly in the second half of the month, and transactions were limited. 

Recently, Jiangxi, Hunan, Guangdong and many other places have issued high temperature warnings, which will affect the power supply and tungsten raw material output to a certain extent, superimposed environmental protection and the non-renewability of resource grades, the tight supply in the primary tungsten market is expected to continue. 

However, the international trade environment and the state of the demand market are still not clear, the phenomenon of consumption constraints continues, and the positive momentum of the price trend of tungsten products is limited. It is expected that the market will still be in sideways, and traders will wait and see the price guidance of institutions and large enterprises after the month change, as well as the actual stocking performance of the downstream.

Prices of tungsten products on June 1, 2023

Picture of tungsten acid 

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