Monthly Tungsten Market Report Apr 2023
2023-05-23 18:45:13 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
1. Market Highlights
In April, the Chinese tungsten market saw notably rising prices with market prices generally moving up all the way. Price increases this month could be attributed to changes in the supply-demand relation . Given inspections on environmental protection and production safety, in March to April upstream tungsten concentrate production was restricted and suppliers therefore held back from selling . Further boosted by the fact many downstream consumers set out to make replenishments, tungsten prices rebounded. In April, tungsten concentrate prices moved up from RMB114,000/t (USD16,159/t) to RMB122,000/t (USD17,293/t) and suppliers made profits in late April, and prices tended to stabilize . This month, boosted by rising tungsten concentrate prices, APT88.5%min prices followed suit, rising from the bottom line of RMB173,000/t (USD24,522/t) in this month to RMB182,000/t (USD25,797/t), and many consumers made purchases at around RMB175,000/t (USD24,805/t), while the market saw inactive deals concluded at higher than RMB175,000/t (USD24,805/t) . Producers held limited stocks and commonly maintained make-to-order production, with limited deals concluded on the spot market . In April, boosted by rising APT88 . 5%min prices, prices for tungsten powder and tungsten carbide powder both moved up. Prices for medium-sized tungsten carbide powder rose from RMB258/kg (USD36.57/kg) to around RMB268/kg (USD37.99/kg), but most cemented carbide producer made replenishments when prices rose to around RMB260/kg (USD36.85/kg) in early April, and most deals concluded at over RMB265/kg (USD37.56/kg) were rigid-demand orders. Prices for medium-sized tungsten powder rose to RMB275/kg (USD38.97/kg) and downstream consumers were relatively cautious in making purchases. In April, tungsten bar prices moved up to around RMB298/kg (USD42.23/kg) but end demand was weak. This month, boosted by rising tungsten concentrate prices, ferrotungsten prices edged up on the whole, with ferrotungsten 70%min and 80C up to RMB175,000/t (USD24,805/t) and RMB182,000/t (USD25,790/t) respectively from RMB172,000/t (USD24,373/t) and RMB180,000/t (USD25,513/t), but downstream steel mills were inactive in buying and made only hand-to-mouth purchases . Boosted by rising raw material prices, in April prices for tungsten products moved up on the whole . On the international market, in April Chinese tungsten exports grew slowly . Given rising prices inside China, overseas buyers set out to make replenishments, and the Chinese export market saw mildly growing deals . But international economic situation was dim on the whole and producers held no high operating rates . In April, export prices for Chinese APT88.5%min, tungsten carbide powder and ferrotungsten 75%min stood at USD320-330/mtu, USD39.5-40/kg and USD37-38/mtu respectively, and the market saw generally inactive deals.
In April, the Chinese tungsten market saw notably rising prices with market prices generally moving up all the way. Price increases this month could be attributed to changes in the supply-demand relation . Given inspections on environmental protection and production safety, in March to April upstream tungsten concentrate production was restricted and suppliers therefore held back from selling . Further boosted by the fact many downstream consumers set out to make replenishments, tungsten prices rebounded. In April, tungsten concentrate prices moved up from RMB114,000/t (USD16,159/t) to RMB122,000/t (USD17,293/t) and suppliers made profits in late April, and prices tended to stabilize . This month, boosted by rising tungsten concentrate prices, APT88.5%min prices followed suit, rising from the bottom line of RMB173,000/t (USD24,522/t) in this month to RMB182,000/t (USD25,797/t), and many consumers made purchases at around RMB175,000/t (USD24,805/t), while the market saw inactive deals concluded at higher than RMB175,000/t (USD24,805/t) . Producers held limited stocks and commonly maintained make-to-order production, with limited deals concluded on the spot market . In April, boosted by rising APT88 . 5%min prices, prices for tungsten powder and tungsten carbide powder both moved up. Prices for medium-sized tungsten carbide powder rose from RMB258/kg (USD36.57/kg) to around RMB268/kg (USD37.99/kg), but most cemented carbide producer made replenishments when prices rose to around RMB260/kg (USD36.85/kg) in early April, and most deals concluded at over RMB265/kg (USD37.56/kg) were rigid-demand orders. Prices for medium-sized tungsten powder rose to RMB275/kg (USD38.97/kg) and downstream consumers were relatively cautious in making purchases. In April, tungsten bar prices moved up to around RMB298/kg (USD42.23/kg) but end demand was weak. This month, boosted by rising tungsten concentrate prices, ferrotungsten prices edged up on the whole, with ferrotungsten 70%min and 80C up to RMB175,000/t (USD24,805/t) and RMB182,000/t (USD25,790/t) respectively from RMB172,000/t (USD24,373/t) and RMB180,000/t (USD25,513/t), but downstream steel mills were inactive in buying and made only hand-to-mouth purchases . Boosted by rising raw material prices, in April prices for tungsten products moved up on the whole . On the international market, in April Chinese tungsten exports grew slowly . Given rising prices inside China, overseas buyers set out to make replenishments, and the Chinese export market saw mildly growing deals . But international economic situation was dim on the whole and producers held no high operating rates . In April, export prices for Chinese APT88.5%min, tungsten carbide powder and ferrotungsten 75%min stood at USD320-330/mtu, USD39.5-40/kg and USD37-38/mtu respectively, and the market saw generally inactive deals.