China Tungsten Prices Are in the Upward Trend in Late August 2023

Details: Category: Tungsten's News; Published on Monday, 28 August 2023 18:09

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued their steady upward trend in the week ended on Friday, August 25, 2023, primarily driven by the anticipations of price increases in the tungsten raw material market.

However, feedback from the downstream sector remains lukewarm, and the current market trading atmosphere is characterized by a cautious and subdued tone, as market participants await further developments in supply and demand.

Tungsten concentrate price is testing higher levels around $17,571.4/ton, indicating that demand risks persist. However, global economic uncertainties and a sentiment of resource preservation support the determination of businesses to maintain price levels.

APT price is testing above $295.4/mtu, mainly following the upward adjustments in raw material prices. However, the pace of uptake from the downstream sector remains relatively sluggish, contributing to limited market liquidity.

Tungsten powder price is stabilizing at around $39.3/kg. There are still divergent sentiments along the entire industry chain. Recent cost considerations have played a leading role, with factories maintaining low operating rates while observing the recovery of demand in the alloy sector.

Prices of tungsten products on August 28, 2023

China tungsten prices image