China Tungsten Price Was Stable at the Beginning of June 2023

Details: Category: Tungsten's News; Published on Tuesday, 06 June 2023 09:22

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was stable in the week ended on Friday, June 2, 2023 when the primary market is operating cautiously and steadily. The mining end has a strong rised mentality, and external offers have risen slightly because the supply of market resources is limited; buyers remain cautious, and the enthusiasm of merchants for active consumption is not high.

In the tungsten concentrate market, due to environmental protection and the impact of high temperature and rainy weather, the supply of market resources is relatively tight. Holders believe that the maintenance of a warmer macro policy environment is expected to drive consumption in the future. During the week, the price of tungsten concentrate remained firm at around $18,769.2/ton, and the actual transaction has not yet been followed up. Traders are worried that the expansion momentum of domestic demand is not as good as expected, and the initiative to enter the market is still low.

In the APT market, the cooperation between the upstream and downstream of the industrial chain is low, the participation of traders in the market is not high, and the purchase and sales of intermediate smelting products are relatively sluggish. The APT price rose slightly during the week and then consolidated at around $28,000.00/ton.

In the tungsten powder market, from the perspective of the supply side, it is difficult to find low-level resources of raw materials, and the cost support has increased during the week. From the perspective of the consumption side, the demand allocation is insufficient, and the performance of downstream terminals is mediocre. The tungsten powder price stalemates at about $42.3/kg with rare deals concluded.

Prices of tungsten products on June 5, 2023

China tungsten price image