China Tungsten Market Was Weak After the Holiday of Dragon Boat Festival

Details: Category: Tungsten's News; Published on Monday, 26 June 2023 17:35

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market was weak in the first trading day after the holiday of Dragon Boat Festival affected by the decline in new guide prices from listed tungsten companies for the second half of June 2023.

Returning after the festival, the market did not have a clear positive entry. The international environment is still severe and complex, which increases the risk of domestic economic and demand recovery. The overall trend of the tungsten market is under pressure and most market participants are waiting and seeing the actual order performance after the festival.

The quotation of tungsten concentrate is around $17,794.1/ton. The recent high temperature has invaded many areas of China, which has exacerbated the weak supply and demand situation in the market. The holders have limited willingness to sell goods at a low price, buyers receive goods based on their actual needs, and the market transactions are limited.

The price of APT is consolidating at around $300.8/mtu and smelters are generally under pressure in bargaining prices, waiting to see the risk of market inversion. Traders are not active in buying and selling.

The price of tungsten powder consolidated at around $40.4/kg. The weak state of the downstream alloy market continues, which affects the trade atmosphere of the tungsten raw material market. The short-term market is expected to continue to be stable.

Prices of tungsten products on June 26, 2023

China APT price image