Chinese Tungsten Prices Experienced Minor Adjustments in Early September 2023

Details: Category: Tungsten's News; Published on Monday, 11 September 2023 18:46

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices have seen minor adjustments in the week ended on Friday, September 8, 2023 with a stable yet slightly weaker trend. This is primarily due to the relatively subdued atmosphere on the demand side.

Additionally, the momentum from a new round of guide prices from major tungsten enterprises is limited. Consequently, the tungsten market sentiment remains unstable, with negotiators showing some flexibility, but with limited room for support on the raw material side.

As of September 8, 2023, tungsten concentrate price was quoted at $17,285.7/ton; APT price was quoted at $292.2/mtu; tungsten powder price was quoted at $39.1/kg; 70% ferro tungsten price was quoted at $25,000.0/ton; cobalt powder price was quoted at $34.7/kg.

In macroeconomic news, according to data from the General Administration of Customs, China's total imports and exports in August 2023 were CNY 3.59 trillion, a year-on-year decrease of 2.5%. Among these, exports were CNY 2.04 trillion, down 3.2% year-on-year, while imports were CNY 1.55 trillion, a decrease of 1.6% year-on-year. From January to August, China's total imports and exports were CNY 27.08 trillion, a slight decrease of 0.1% year-on-year. Among these, exports were CNY 15.47 trillion, an increase of 0.8% year-on-year, while imports were CNY 11.61 trillion, down 1.3% year-on-year. The top three trading partners for China were ASEAN, the EU, and the United States, with total imports and exports of CNY 4.11 trillion, CNY 3.68 trillion, and CNY 3.05 trillion, respectively. Year-on-year, they grew by 1.6%, decreased by 1.5%, and decreased by 8.7%, respectively. China's imports and exports with countries along the "Belt and Road" increased by 3.6%.

Prices of tungsten products on September 11, 2023

China tungsten price image