Analysis of latest tungsten market in China(2023.10.13)

The ferro tungsten and tungsten carbide powder prices in the Chinese market remain stable on October 12, 2023 with no significant changes in market supply and demand dynamics.

On the macroeconomic front, there is optimism regarding the domestic economic growth outlook due to improved endogenous dynamics in the Chinese economy.   However, uncertainties arising from external factors are causing a wait-and-see approach regarding the actual implementation of tungsten product consumption.

In the tungsten concentrate market, high-grade offers continue to be above $17,142.9/ton.   However, the actual circulating resources in terms of grade and price are generally below this level.

In the ammonium paratungstate (APT) market, prices remain relatively stable, and transactions are conducted on an as-needed basis.   The trading focus is concentrated around $290.6/mtu.   The consumer market exhibits a cautious attitude, which is impacting overall transaction volumes and prices.   Cost considerations are not showing concessions, and businesses are handling their operations with care, while being concerned about the inverted market pressures.

In the tungsten powder market, the current atmosphere is dominated by a focus on the actual consumption and expected sentiment in the hard alloy sector.   The sentiment has been relatively weak recently, resulting in subdued trading conditions.   Price offers from businesses are holding steady at around $38.7/kg.

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