China Tungsten Price Shows Stable in July 2023

Analysis of latest tungsten market from Chinatungsten Online

In July 2023, China tungsten price generally showed a stable but weak trend mainly due to the fact that the pressure on the margin of demand has not improved, the upward resistance of the market economy has increased affected by the external shock environment and high temperature and rainy weather. 

The recent extreme weather events have partially affected the market supply, but more of the reduction is due to the low prosperity on the consumer side. Intermediate smelters are generally cautious to avoid the risk of price inversion and reduce the start-up load.

At present, the positive factors in the market are mainly concentrated on the market sentiment of tungsten raw materials. Under the influence of factors such as lower resource grades, strategic resource value attributes, and environmental protection regulatory requirements, the willingness of miners and smelters to give up profits is relatively low, giving strong support to the bottom of the market.

However, the market demand recovery cycle is still unclear. Although there are more optimistic expectations on the domestic economic policy level in the second half of the year, the overseas economic pressure and the stagnation of tungsten product exports have not yet eased. The actual market trading is still cautious, and transactions are not active. Most participants wait and see the new round of guidance prices in the market at the beginning of August 2023, as well as the back-end stocking situation.

Prices of tungsten products on August 2, 2023

Picture of tungsten trioxide 

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