China Tungsten Price Was in the Upward Trend in the Middle of August 18, 2023

Details: Category: Tungsten's News; Published on Wednesday, 23 August 2023 14:50

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the week ended on Friday, August 18, 2023 despite limited progress in market demand.

On one hand, this is driven by the anticipation of raw material holders waiting for prices to rise. On the other hand, the boost comes from the upward adjustments in long-term contract price by major tungsten enterprises.

The price of 65% black tungsten concentrate has adjusted upward to above $17,428.6/ton. High-level transactions are significantly constrained, but feedback from ore traders reflects a resilient sentiment. The availability of spot market supply and demand resources is limited, profit-taking sentiments have yet to emerge, and the market is in a standstill at higher price levels.

Ammonium Paratungstate (APT) prices have stabilized around $293.8/mtu. Driven by cost considerations, the market's willingness to raise prices has increased. However, downstream end-users are cautious in accepting shipments, maintaining a wait-and-see approach due to lingering pressure from the inverted market and cautious standoffs in trading negotiations.

Tungsten powder prices are stabilizing around $39.0/kg. The sentiment of a firming market is transmitted from the raw material end. Coupled with the impact of earlier smelter production cuts, market buying and selling negotiations have slightly favored suppliers. However, progress in consumption in the alloy sector is limited, resulting in moderate enthusiasm for tungsten raw material procurement and an overall cautious trading environment in the market.

Prices of tungsten products on August 21, 2023

China tungsten price image