China’s Xianglu Tungsten Declined Long-term Contract Prices for July 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price remains stable and the offers from traders mainly refer to the long-term contract prices released by large tungsten enterprises. 

China’s Xianglu Tungsten released its long-term contract prices for July 2023: wolframite concentrates (65% WO3) price was 17,132.4/ton, down $367.6/ton; scheelite concentrates (65% WO3) price was $16,985.3/ton, down $367.6/ton; APT price was $294.9/mtu, down $5.8/mtu compared with last month.

On the supply side, the recent high-temperature, flood season and back-end consumption resistance have led to a slowdown in the enthusiasm of suppliers to start production. The overall supply of resource is tight, but merchants are still reluctant to sell at a low price. 

On the demand side, the inventory level of the cemented carbide end is generally high, which affects the overall market is still in a period of pressure, coupled with the impact of overseas consumption resistance, the upward momentum of the market is limited, and transactions are rarely concluded. 

In terms of news, the World Meteorological Organization stated that the extremely hot weather that broke the highest monthly average temperature record in June and the two highest daily average temperature records in the first half of July will last for another two weeks and may last until August. Such extreme weather is becoming an increasingly frequent phenomenon of climate change and has major impacts on human health, ecosystems, economies, agriculture, energy and water supplies.

Prices of tungsten products on July 18, 2023

Picture of tungsten acid

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