China’s Zhangyuan Tungsten Declined Long-term Contract Prices for the Second half of September 2023

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices are currently showing a weak and stable trend. Suppliers at the mining end are maintaining a cautious attitude, preferring to hold onto their stocks in hopes of supporting prices. However, the sluggish demand on the consumer end is dampening confidence among participants, leading to less-than-ideal trading and shipments in the market. 

Large tungsten enterprises have issued a new round of APT (ammonium paratungstate) quotations, mostly below $290.6/mtu, which is putting pressure on smelters. Negotiations in the market are generally trending toward stability or even slight declines. With the upcoming Mid-Autumn Festival and National Day holidays, there are more obstacles to price recovery. As a result, it is expected that tungsten market fluctuations will be limited.

China’s Zhangyuan Tungsten released its long-term contract prices for the second half of September 2023: black tungsten concentrate (WO3≥55%) price was $16,928.6/ton; scheelite concentrate (WO3≥55%) price was $16,714.3/ton, unchanged compared with the first half of this month; APT price was $289.7/mtu, down $1.6/mtu compared with the first half of this month. 

Jingxi Tungsten quoted high-grade black tungsten concentrate at $17,214.3/ton for the second half of September 2023, down $71.4/ton compared with the first half of this month.

In terms of demand, China's tungsten product exports showed some recovery in August compared to the previous month. However, there is still a gap compared to the same period last year. According to customs data compiled by China Tungsten Online, from January to August 2023, China's cumulative tungsten product exports reached 14,007.40 tons, a decrease of 30.76% compared to the same period in 2022. The total export value for this period was 3.74 billion yuan, a decrease of 25.28% year-on-year. In August, China's cumulative tungsten product exports amounted to 1,696.82 tons, down by 34.71% compared to August 2022 but up by 11.21% compared to July 2023. The total export value for August was 463 million yuan, a decrease of 30.64% year-on-year but an increase of 11.14% compared to July.

Prices of tungsten products on September 22, 2023

Picture of tungsten trioxide 

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