China Tungsten Price Remained Weak Affected by the Decline in Guidance Prices for October 2023

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained weak adjustment in the week ended on Friday, October 13, 2023. There are several factors contributing to this trend as following: 

Firstly, at the beginning of the week, major tungsten enterprises and institutions slightly declined their guidance prices. Secondly, the post-holiday procurement and stocking demand in the market is progressing slowly, and the sluggish demand from the consumption side is affecting the confidence of industry participants, which is restraining the overall market momentum. However, a firm attitude towards pricing on the raw material side is limiting the room for market adjustments, and the prices of tungsten products are generally in a period of consolidation.

The price of tungsten concentrate remains high, hovering around $17,142.9/ton. Suppliers are maintaining a stable attitude, but the subdued sentiment in downstream markets is affecting the delivery of raw material resources. Especially, it is challenging to implement high-priced offers, and short-term market orders are being placed based on demand, leading to a situation of stalemate.

The price of ammonium paratungstate (APT) is holding steady at around $290.6/mtu. Under the dual pressure of strong production costs and weak demand, the market is finding it difficult to move either up or down. The market is in a state of consolidation, with reference to the long-term quotations of several representative smelters.

Tungsten powder price is also holding steady at around $38.7/kg. Confidence in demand from the hard alloy sector remains weak, which is putting pressure on the raw material market. Spot transactions are maintaining a just-in-time approach, and local market prices are experiencing a slight decline in shipments.

The price of 70% ferro tungsten is in a phase of consolidation, hovering around $25,000.0/ton. The sentiment among raw material suppliers remains cautious at the lower end, and overall market activity in downstream sectors is limited in the short term. The market is currently stable, with an outlook for a potential recovery in buying interest.

Prices of tungsten products on October 16, 2023

Picture of tungsten alloy rings 

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