China’s Xianglu Tungsten Increased Long-term Contract Prices for June 2023

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable in the week ended on Friday, June 16, 2023 affected by the deadlocked supply and demand, negative concerns at the macro level and the market outlook. 

China’s Xianglu Tungsten released its long-term contract prices for June 2023: 55% black tungsten concentrate price was $17,500.00/ton, up $220.6/ton; 55% scheelite concentrate price was $17,352.9/ton, up $220.6/ton; APT price was $300.8/mtu, up $2.5/mtu compared with May 2023. 

In the tungsten concentrate market, miners are reluctant to sell at low prices to stabilize the market, but the negative state of the downstream has put pressure on the raw material side. Buyers are not willing to take the initiative to accept goods, so the overall market transactions are limited. 65% black tungsten concentrate price stabilizes at about $17,941.2/ton. The ore price is the main factor supporting the price stability of tungsten products in the near future.

In the ammonium paratungstate (APT) market, the bargaining atmosphere at downstream terminals is strong, while the raw material end is relatively stable. Smelters cautiously avoid the risk of price inversion, and make offers at around $302.4/mtu.

In the tungsten powder market, the demand pressure on the cemented carbide side is significant, and powder manufacturers receive few new orders. Most tungsten powder offers hover around $40.6/kg. The outlook for the European and American markets is still weak, China's economic data lacks bright spots, the market's bearish concerns are increasing, declining the overall risk appetite. 

Prices of tungsten products on June 19, 2023

Picture of tungsten acid 

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