China’s Xianglu Tungsten Stabilized Long-term Contract Prices for September 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price has stabilized, with a lack of optimism in the alloy sector's consumption sentiment. This has put pressure on the tungsten raw material market. 

However, influenced by cost factors and the stabilization sentiment in the mining sector, tungsten product prices have not shown a significant downward trend. The market is currently experiencing a short-term period of weak stability, with limited room for price fluctuations as participants await clearer directional news.

China’s Xianglu Tungsten stabilized their long-term contract prices for September 2023: 55% black tungsten concentrate was quoted at $16,928.6/ton; 55% scheelite concentrate was quoted at $16,785.7/ton; APT was quoted at $289.7/mtu. 

According to information from China Tungsten Online, in September 2023, Xianglu Tungsten maintained the pre-tax prices of tungsten raw materials at the same level as in August. The pre-tax prices for tungsten concentrate with over 55% WO3 content were 118,500 CNY per metric ton, and for ammonium paratungstate (APT), it was 179,500 CNY per ton.

On the macroeconomic front, according to data from the National Bureau of Statistics, in August, China's industrial value-added above a certain scale increased by 4.5% year-on-year, with a month-on-month growth of 0.50%. Retail sales of consumer goods reached 3.79 trillion CNY, an increase of 4.6% year-on-year. The nationwide urban survey unemployment rate was 5.2%, a decrease of 0.1 percentage points compared to the previous month. From January to August, China's fixed asset investment (excluding rural households) was 32.7 trillion CNY, a year-on-year increase of 3.2%, with private investment amounting to 16.95 trillion CNY, a decrease of 0.7% year-on-year.

Prices of tungsten products on September 19, 2023

Picture of tungsten alloy rods

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