China Tungsten Price Continued to Stabilize at the Beginning of July 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continued to be stable affected by the low trading activity of market participants. 

Due to the pressure of environmental protection and the impact of high temperature weather, the holders are reluctant to sell and support the market, and their willingness to sell at a low price is not high.

Due to the impact of sluggish demand, buyers still negotiate prices based on rigid demand when receiving orders. In addition, the risk aversion sentiment of funds affected by macroeconomic factors is increasing, and the overall market transactions are low. 

At present, tungsten concentrate price stands at about $17,794.1/ton, APT price hovers around $300.8/mtu and tungsten powder price is about $40.3/kg. 

On the macro level, although the production and operation activities of the manufacturing industry have bottomed out and rebounded, the pressure of contraction in demand is still prominent. According to the National Bureau of Statistics, in June, China's manufacturing purchasing managers index (PMI) was 49%, an increase of 0.2 percentage points from the previous month, indicating that the economic operation has stabilized, but still below the critical point; the non-manufacturing PMI was 53.2%, a month-on-month decrease of 1.3 percentage points, still higher than the critical point; the composite PMI was 52.3%, a month-on-month decrease of 0.6 percentage points, and continued to be in the expansion range.

Prices of tungsten products on July 4, 2023

Picture of tungsten trioxide 

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