China Tungsten Price Was Weak in the First Half of July 2023

Details: Category: Tungsten's News; Published on Tuesday, 11 July 2023 11:01

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was weak overall in the week ended on Friday, July 7, 2023 affected by sluggish demand of downstream terminals, the downward price guidance of institutions and large enterprises as well as the influence of high temperature, flood weather and weak recovery of the economic environment.

The tungsten concentrate market is under pressure and the latest offers stand at about $17,647.1/ton with limited deals concluded. The negative emotions of downstream users continue to infiltrate the raw material market, and the confidence of miners is slightly weakened. However, the overall supply is still cautious, and there are not many traders wanting to sell at low prices.

The APT price moves down with the long-term contract prices of enterprises, generally below $299.1/mtu. The upstream of the industry chain still has a positive attitude towards the market, while the downstream consumer is negative. The intermediate smelters retain a cautious and risk-averse attitude, and generally sell goods on demand. There is limited room for negotiation on declines.

The tungsten powder price is weak at about $40.1/kg mainly because the consumption of the cemented carbide end is not positive, and buyers ask more orders to negotiate prices, which forces powder manufacturers to receive few new orders. The kinetic energy of production, purchase and sales is insufficient, and the overall market shipments are relatively sluggish. It is now difficult to recover from the bearish market.

Prices of tungsten products on July 10, 2023

China tungsten price image