China’s Ganzhou Tungsten Association (GTA) Increased Average Tungsten Forecast Prices for December 2023

Analysis of latest tungsten market from Chinatungsten Online

A new round of average tungsten forecast prices from the Ganzhou Tungsten Association (GTA) and the announcement of long-term contract prices from major tungsten enterprises generally align with market expectations. 

The mindset on the tungsten raw material side has been boosted, maintaining overall stable offerings. Downstream end-users exhibit a cautious attitude towards purchasing and stocking, with much of the market trading still revolving around immediate needs. The foundation for continuous exploration of price increases is not particularly solid, and ongoing attention is given to market supply-demand adjustments, as well as year-end corporate funding status and stocking performance.

China’s GTA released its average tungsten forecast prices for December 2023: 55% black tungsten concentrate price was $17,000.0/ton, up $285.7/ton; APT price was $291.4/mtu, up $4.8/mtu; medium particle tungsten powder price was $39.4/kg, up $0.4/kg compared with November 2023. 

Zhangyuan Tungsten released its long-term contract prices for the first half of December 2023: black tungsten concentrate (WO3≥55%) price was $17,000.0/ton, up $142.9/ton; scheelite concentrate (WO3≥55%) price was $16,785.7/ton, up $142.9/ton; APT price was $291.4/mtu, up $4.0/mtu compared with the second half of November 2023. 

Jiangxi Tungsten quoted high-grade black tungsten concentrate at $17,357.1/ton, up $214.3/ton compared with the second half of November 2023.

Xiamen Tungsten’s APT bid price was $289.7/mtu, up $2.4/mtu compared with the second half of November 2023.

On the macro level, the Ministry of Finance points out that the Chinese economy has significant resilience and potential for development, maintaining a long-term positive outlook and continuing to be a crucial engine for global economic growth. China possesses a robust domestic market with substantial demand potential from its 1.4 billion population. Employment and overall price levels remain stable, and there is orderly transformation between new and old economic drivers, with continuously strengthening endogenous growth drivers. These factors will contribute to the qualitative and effective improvement of the Chinese economy and reasonable growth in quantity.

Prices of tungsten products on December 7, 2023

Picture of tungsten hexachloride

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