The Overall Chinese Tungsten Price Shows Signs of Rise in Early December 2023

Analysis of latest tungsten market from Chinatungsten Online

The overall Chinese tungsten price has shown a situation of probing higher and then stabilizing in the week ended on Friday, December 1, 2023, with the key factors in the market being the actual performance of the supply and demand fundamentals and market confidence. 

The current dynamic between the strategic mentality in the tungsten raw material market and the dual weakness in supply and demand is interacting, with fluctuating sentiments in the market. Market participants are observing the announcement of price guidance from institutions and large tungsten enterprises next week.

The tungsten concentrate price is consolidating at a high level around $17,285.7/ton, with poor actual transaction volume and divergent confidence in market negotiations. APT (Ammonium Paratungstate) prices are holding steady at the $290.6/mtu level, driven by market costs, while demand resistance continues. Tungsten powder prices are consolidating around $38.6/kg, with market trading negotiations holding steady as needed. The price of 70% ferro tungsten is temporarily stable at around $25,000.0/ton, with the bottom of the tungsten raw material sector's probing for an increase not being stable. Scrap tungsten prices are stable with a slight upward trend, benefiting from a reduction in resource quantity and the high cost of raw materials.

On the macroeconomic front, according to statistical bureau data, in November, China's Manufacturing Purchasing Managers' Index (PMI) was 49.4%, a decrease of 0.1 percentage points from the previous month. The manufacturing industry's prosperity level has slightly declined, but the production index of steel-consuming industries such as metal products, general equipment, railway ships, and aerospace equipment is all above 55.0%, indicating an improved steel market outlook. The Non-Manufacturing PMI was 50.2%, a decrease of 0.4 percentage points from the previous month, and the non-manufacturing sector overall maintained expansion. The comprehensive PMI was 50.4%, a decrease of 0.3 percentage points from the previous month, indicating that overall business activities continue to expand.

Prices of tungsten products on December 4, 2023

Picture of tungsten acid 

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