Chinese Tungsten Price Was in the Upward Trend in August 2023

Analysis of latest tungsten market from Chinatungsten Online

In August 2023, Chinese tungsten price showed an overall trend of stability with a slightly upward movement. The main positive factors stem from the reluctance of suppliers to sell at lower prices, while intermediate manufacturers and traders show an increased inclination to explore price hikes driven by rising costs. 

However, in the relatively calm downstream terminal environment, purchasers remain cautious in entering the market, resulting in limited realization of transactions at higher levels. With intensifying dynamics along the supply chain, the tungsten price in late August returned to a state of stagnation, with a prevailing atmosphere of observation and anticipation in the market. The focus is on updates to new guide prices by institutions and major enterprises after the month change, as well as the progress of consumption in the alloy sector.

From January to August 2023, the average price of 65% black tungsten concentrate was around 119,600 yuan/ton, reflecting a 3.55% increase year-on-year, with a 5.17% rise from the beginning of the year. The average price of 65% scheelite concentrate was around 117,600 yuan/ton, showing a 3.61% increase year-on-year and a 5.26% rise from the beginning of the year. The average price of ammonium paratungstate was around 179,400 yuan/ton, indicating a 1.87% increase year-on-year and a 3.98% rise from the beginning of the year. The average price of tungsten powder was around 272.93 yuan/kg, reflecting a 1.62% increase year-on-year and a 3.38% rise from the beginning of the year. The average price of tungsten carbide powder was around 269.02 yuan/kg, marking a 0.92% increase year-on-year and a 3.44% rise from the beginning of the year. The average price of 70% ferro tungsten was around 175,600 yuan/ton, showing a 0.92% increase year-on-year and remaining unchanged from the beginning of the year. The average price of tungsten bar was around 339.43 yuan/kg, reflecting a 4.34% increase year-on-year and a 1.49% rise from the beginning of the year. The average price of cobalt powder was around 272.48 yuan/kg, experiencing a 49.03% decrease year-on-year and an 18.53% decrease from the beginning of the year.

Prices of tungsten products on September 1, 2023

Picture of tungsten alloy cube 

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