China’s Tungsten Powder Prices Rose While Tungsten Carbide Powder Prices Stabilized

Details: Category: Tungsten's News; Published on Wednesday, 29 November 2023 18:52

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten price seems in the upward trend with the market sentiment buoyed by the influence from the mining side. However, buyers remain relatively cautious as there is not much improvement in the demand side.

The price of 65% black tungsten concentrate remains firm at around $17,285.7/ton. The limited market supply and environmental inspection news boost the confidence of holders. Although the coordination at the backend is not ideal, the current situation of relatively low financial pressure on the mining side keeps the market's willingness to offer discounts and sell limited, with a short-term expectation of holding back sales and hoping for price increases prevailing.

Ammonium paratungstate (APT) prices remain strong above $290.6/mtu, influenced by the cost and demand conditions slightly diverging. Market transactions show resistance, and the overall release of order volume is limited, with smelters maintaining a cautious approach to production.

Tungsten powder prices have returned to the $38.6/kg threshold, while tungsten carbide powder prices are consolidating around $37.9/kg. The atmosphere in the tungsten raw material sector is boosting, but there are no clear signals of improvement in consumption in the alloy sector. The market's actual trading sentiment remains in a stalemate.

On the macro side, according to the National Bureau of Statistics, from January to October, the total profits of industrial enterprises above a designated size in the country reached 6.11542 trillion yuan, a year-on-year decrease of 7.8%. The operating income was 107.78 trillion yuan, a year-on-year increase of 0.3%. In October, the profits of industrial enterprises above a designated size increased by 2.7% year-on-year, achieving positive growth for three consecutive months, indicating a sustained improvement in the profitability of industrial enterprises.

Prices of tungsten products on November 29, 2023

APT price image