China Tungsten Price Continued to Stabilize on Quiet Market

Details: Category: Tungsten's News; Published on Tuesday, 07 November 2023 16:56

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continued to stabilize, with no significant updates on market news.

The fundamental aspects of the market are in a state of dual weakness, and there are multiple factors of macroeconomic instability. Market participants maintain a cautious and on-demand trading mentality, while also paying attention to the new guidance from institutions and large enterprises in the new round.

The price of tungsten concentrates has remained steady at $17,142.9/ton. Market resources are mainly based on the willingness of mines to release material, with a general lack of strong willingness to reduce prices. Market demand is also subdued, with a wait-and-see attitude in terms of downstream consumer sentiment. As a result, there is pressure on substantial trading within the market, and overall market liquidity is not ideal. The tungsten market is experiencing no major fluctuations for the time being.

Ammonium paratungstate (APT) prices are concentrated around $288.9/mtu, primarily based on quotations from several representative tungsten companies. The actual mentality of purchasing customers deviates from that of smelters. Spot traders are in a state of negotiation and pressure, while manufacturers remain stable to avoid the risk of inverted prices and are waiting to see the performance of a new round of long-term contract prices.

Tungsten powder prices are temporarily stable around $38.6/kg. Market demand is slowly being released, but consumption in the alloy sector is less than ideal. This has led to a bearish sentiment among traders. The overall atmosphere in the market is subdued, with enterprises lowering their production loads passively, and cost support is temporarily holding up.

Scrap tungsten prices are running stable for now. Market resource pressure is limited compared to primary materials. However, the situation in the entire supply chain, from upstream to downstream, is notable. Market trading is adjusted to just meet the demand, and the mentality of traders is predominantly wait-and-see.

Prices of tungsten products on November 7, 2023

China tungsten price image