China Tungsten Price Stabilizes When the Industrial Chain Is in a Stalemate

Details: Category: Tungsten's News; Published on Tuesday, 13 June 2023 16:19

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continues to be stable because the whole industrial chain is still in a stalemate and the global economy growth slows, which prohibits the resource circulation in the spot market.

In the tungsten concentrate market, merchants’ offers remain above $18,769.2/ton and the market’s anti-falling sentiment is strong. However, affected by the relative downturn in the downstream, the prominent contradiction between supply and demand in the market, market trading is difficult to be active.

In the APT market, the spot price remains stalemate at around $302.4/mtu. The smelters’ intention to stabilize the market is obvious, but the downstream demand support is weak, and there is not enough good news on both ends of the market. The market is expected to stabilize in the short term.

In the tungsten powder market, the price continues to consolidate at around $39.3/kg. Affected by the risk of overseas economic recession and the weak recovery of the domestic economy, the attitude of consumers is not positive, and there were significant concerns about market demand.

On the macro front, according to the statistics bureau, in May, China's consumer price index (CPI) fell by 0.2% month-on-month, up 0.2% year-on-year, up 0.1 percentage points from the previous month; the factory price of industrial products (PPI) fell by 0.9% month-on-month, up 0.2% year-on-year. It fell by 4.6%, and the rate of decline expanded by 1.0 percentage points from the previous month.

Prices of tungsten products on June 13, 2023

China tungsten price image