China’s Xiamen Tungsten Raised APT Bid Price for Late December 2023

Details: Category: Tungsten's News; Published on Wednesday, 20 December 2023 17:47

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are maintaining stability on December 19, 2023, with a continued reluctance to sell on the supply side, and the market sentiment remains supportive.

As the Christmas and New Year holidays approach, the demand side experiences a subdued atmosphere, leading to an overall slow pace of market transactions. The feedback from a new round of guide prices further indicates a stabilized market situation.

China’s Xiamen Tungsten released its APT bid price at $291.4/mtu, up $1.6/mtu compared with the first half of December 2023.

The price of tungsten concentrates is being maintained at around $17,571.4/ton, with limited resources on the supply side primarily due to the mentality of holding back stock by merchants. Downstream end-users are entering the market rationally, and the relatively weak demand remains unchanged.

APT prices are consolidating around $293.8/mtu, with significant cost pressure in the market. However, the supply-demand pattern is expected to be difficult to adjust in the short term. Smelters are cautious in their purchases, and the mainstream market references large tungsten enterprises’ long-term quotations.

Tungsten powder prices are stagnant at around $39.0/kg. Industry participants anticipate an increase in cost pressure in the future, influenced by factors such as environmental protection, technology, transportation, and inflation. However, industry participants hold a cautious view on future demand, particularly focusing on the supply-demand ratio and export situation in the alloy sector.

The price of 70% ferro tungsten remains steady at $25,000.0/ton. Strong cost support and essential consumer demand contribute to the stability of the market, with occasional minor upward movements. However, the overall enthusiasm for downstream stocking is limited, and negotiations among spot traders in the market remain at a standstill.

Prices of tungsten products on December 20, 2023

China tungsten powder price image