China Tungsten Price Stabilized in the Middle of October 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continued to be weak with a lack of proactive buying and selling sentiment in the market. 

On the fundamental side, the supply and demand situation in the market remains in a weak state, with a standoff between market participants. Holders of tungsten products are maintaining a stable stance, while downstream end-users are replenishing their inventories on an as-needed basis, resulting in subdued market trading activity. 

On the macroeconomic front, the escalating global geopolitical tensions are putting pressure on financial markets, and the release of positive effects from domestic policies is facing obstacles. In the short term, sentiment in the tungsten market is relatively under pressure, with a wait-and-see approach regarding the pricing behavior of major enterprises in the second half of the month and third-quarter export data for tungsten products.

In terms of news, according to data from the General Administration of Customs, China's total imports and exports in September amounted to 3.74 trillion CNY, a 0.2% decrease year-on-year. Exports were 17.6 trillion CNY, up 0.6% year-on-year, while imports were 13.2 trillion CNY, a 1.2% decrease year-on-year. For the period from January to September, the total imports and exports reached 30.8 trillion CNY, a slight 0.2% decrease, with exports at 17.6 trillion CNY, up 0.6% year-on-year, and imports at 13.2 trillion CNY, a 1.2% decrease year-on-year. China's imports and exports with countries participating in the "Belt and Road" initiative amounted to 14.32 trillion CNY, a 3.1% increase year-on-year, accounting for 46.5% of the total imports and exports.

Prices of tungsten products on October 17, 2023

Picture of tungsten trioxide 

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