China Tungsten Prices Remained Weak Adjustment in the Second half of October 2023

Details: Category: Tungsten's News; Published on Tuesday, 31 October 2023 17:16

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices have remained weak adjustment in the week ended on Friday, October 27, 2023, with relatively quiet market trading and a lack of positive news.

External demand is under pressure due to economic downturn and geopolitical conflicts, while domestic demand has limited recovery effects in sectors like infrastructure and real estate. The market's bullish momentum appears somewhat insufficient, and it is operating under pressure.

In the tungsten concentrate market, high-grade prices maintained at around $17,142.9/ton. Market liquidity is slow, and trading activity is tepid. Mineral producers have a strong stability mindset, primarily based on expectations of resource value and the potential for domestic demand recovery. There is limited willingness to negotiate prices within the market, and consumer follow-through is weak.

The APT (Ammonium Paratungstate) market is in a state of consolidation, with manufacturers quoting prices at around $288.9/mtu. Many businesses intend to stabilize prices due to cost factors, but there is limited enthusiasm for buying and selling in the backend of the market. Negotiations and bargaining are frequently observed in the market, and the focus of actual transactions is under pressure.

The tungsten powder market is experiencing a weak and stable consolidation, with prices hovering around $38.6/kg. Market orders are showing low activity, and the hard alloy industry's impact on reducing prices is affecting the enthusiasm of traders to stock up. In the short term, a bearish sentiment dominates the market, and transactions are sluggish.

Prices of tungsten products on October 30, 2023

China tungsten powder price image