Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was generally under pressure and corrected in the week ended on Friday, March 17, 2023, mainly due to the weak demand in the consumer market, which affected the mood of spot trading negotiations. Market participants are waiting for the long-term contract prices for the second half of this month. 

Analysis of latest tungsten market from Chinatungsten Online

China’s ammonium paratungstate (APT) and tungsten powder prices continue to be weak on March 16, 2023 due in part to the weakness both in the supply and demand sides. 

At the beginning of the week, most Chinese rare earth prices continue to decline on March 20, 2023, but the decline has been reduced compared with the previous period, mainly due to the continuous introduction of favorable policies and the gradual increase in production cost support. 

This week, China rare earth prices have shown a downward trend as a whole. The current downstream industries of rare earths, such as new energy vehicles and 3C consumer electronics, are doing so well. Tesla announced that the next generation of permanent magnet motors will abandon rare earths.