China’s Jiangxi Tungsten Raised Black Tungsten Concentrate Price for late August 2023

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices are maintaining a stable and robust trend, with significant upward adjustments in long-term contract prices for tungsten raw materials by major tungsten enterprises in the second half of August 2023, creating an atmosphere of price exploration in the spot market.

According to information from Chinatungsten Online, in the second half of August 2023, Jiangxi Tungsten's high-grade black tungsten concentrate is quoted at $17,285.7/ton, an increase of $285.7/ton compared to the first half of the month.

In the short term, the tungsten market is experiencing a dual weak supply and demand situation, with seller sentiment gradually taking the lead. This periodic upward movement is being supported. However, due to the ongoing lack of market consumption strength, there is a possibility of downward risks in the future due to demand-related negative factors.

In the long term, the emergence of global economic recession risks and trade unilateralism poses serious challenges to the operation of the tungsten industry. However, domestic efforts to ensure stable growth, implement policy measures to stimulate consumption, and promote high-quality industry development are expected to encourage a recovery in demand in the future.

According to data from the General Administration of Customs, in July 2023, China's cumulative tungsten product exports amounted to 1,525.71 tons, a year-on-year decrease of 44.01%, and a month-on-month decrease of 4.27%. The cumulative export amount was CNY 417 million, a year-on-year decrease of 39.31%, and a month-on-month decrease of 4.27%. From January to July, China's cumulative tungsten product exports amounted to 12,310.52 tons, a year-on-year decrease of 30.18%, with a cumulative export amount of CNY 3.277 billion, a year-on-year decrease of 24.45%.

Prices of tungsten products on August 23, 2023

Picture of tungsten granule 

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