China Tungsten Price Remained Stable with the Impact of Super Typhoon “Du Su Rui”

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable in the week ended on Friday July 28, 2023 mainly due to the deadlocked supply and demand in the market. 

Mine holders are reluctant to sell to the market, and the outflow of low-level spot resources is small. The price of 65% black tungsten concentrate is temporarily stable at around $17,352.9/ton; smelters are constrained by both cost and demand, and the operating rate is reduced. The APT price hovers around $294.1/mut; powder merchants do not receive many new orders, and the overall weak atmosphere at the alloy end still exists. Suppliers negotiate prices based on demand.

The super typhoon “Du Su Rui” made landfall in Fujian on July 28. Xiamen began to implement "three stops and one rest" at 15:00 on July 27, except for people's livelihood security (water supply, power supply, gas, communication, medical care, etc.) and life service (shopping malls that provide daily necessities, etc.), all other industries in the city will suspend work (business), production, classes, and markets. We will wait and see the possible impact of subsequent typhoons on the production start of tungsten smelters.

On the macro level, according to statistics from the Bureau of Statistics, from January to June, the total profits of industrial enterprises above designated size in the country were 3,388.46 billion yuan, a year-on-year decrease of 16.8%; their operating income was 62.62 trillion yuan, a year-on-year decrease of 0.4%; The asset-liability ratio was 57.6%, a year-on-year increase of 0.1 percentage points.

Prices of tungsten products on July 31, 2023

Picture of tungsten acid 

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