China Tungsten Price Keeps Stable in the Last Trading Day of July 2023

Details: Category: Tungsten's News; Published on Tuesday, 01 August 2023 18:39

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price keeps stable on relatively tight supply of raw materials in the market. in the short term, market participants will wait and see the long-term contract prices from listed tungsten enterprises.

In the tungsten concentrate market, the overall shipment volume is still low. On the one hand, it is affected by merchants’ reluctance to sell; on the other hand, the purchasing atmosphere of downstream terminals is still not high. The market transaction is deadlocked, and the price is consolidating at around $17,352.9/ton.

In the APT market, there is little space for the upper reaches to lower prices, and there is still a lot of bargaining for downstream goods. The overall market activity has not increased significantly, and traders are cautious in operating according to their needs.

In the tungsten powder market, the purchase orders of the alloy end are not yet active, the overall consumption in the market is not much progressed, the merchants are mainly cautious and risk-averse, and the spot market is stalemate at about $39.7/kg.

On the macro level, China’s economy continues to stabilize and improve, and the manufacturing industry has improved. According to the statistics of the Bureau of Statistics, in July, China's manufacturing purchasing managers index (PMI) was 49.3%, an increase of 0.3 percentage points from the previous month. Among them, the production index was 50.2%, a decrease of 0.1 percentage points from the previous month, and was still higher than the critical point, indicating that manufacturing production continued to expand; the new order index was 49.5%, an increase of 0.9 percentage points from the previous month, indicating that the manufacturing market demand was booming The index continued to improve; the raw material inventory index was 48.2%, an increase of 0.8 percentage points from the previous month, indicating that the decline in the inventory of major raw materials in the manufacturing industry has narrowed.

Prices of tungsten products on August 1, 2023

China tungsten price image