China’s Xianglu Tungsten Stabilized Long-term Contract Prices for November 2023

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price continues to remain stable, with clear support from the mining sector and a lack of significant recovery in the alloy sector. The overall market atmosphere is characterized by cautious trading and stagnant transaction volume and prices, with primary circulation being driven by essential needs.

According to information from Chinatungsten Online, in November 2023, China’s Xianglu Tungsten set long-term contract prices for tungsten raw materials: Black tungsten concentrate with over 55% WO3 at $16,857.1/ton, unchanged from October; Scheelite concentrate with over 55% WO3 at $16,714.3/ton, unchanged from October; Ammonium paratungstate (APT) at $286.5/mtu, a decrease of $1.6/mtu compared to October 2023. 

On the macroeconomic front, China's overall economy shows a stable and rising trend. According to data from the National Bureau of Statistics, in October, China's industrial value-added for enterprises above a designated size increased by 4.6% year-on-year and 0.39% month-on-month. The total retail sales of consumer goods reached CNY 43.3 trillion, with a year-on-year growth of 7.6%. The national surveyed urban unemployment rate was 5.0%, unchanged from the previous month. From January to October, industrial value-added for enterprises above a designated size increased by 4.1% year-on-year, and the national fixed asset investment (excluding rural households) reached CNY 41.94 trillion, with a year-on-year growth of 2.9%.

Prices of tungsten products on November 17, 2023

Picture of tungsten copper plates 

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