China’s Domestic Tungsten Price Continued its Upward Trend in the Middle of January

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price continued its steady upward trend in the week ended on Friday, January 14, 2022 due to the strengthened tungsten market. 

On the supply side, factors such as repeated epidemics, constrained logistics, energy shortages, and environmental protection management and control continued to affect the market’s resources. On the demand side, market consumption gradually weakened before the Spring Festival as most insiders wait and see the performance in Covid-19, manufacturing and economy. 

In the tungsten concentrate market, the epidemic, environmental protection, logistics and others are superimposed, supporting rised mentality of suppliers. Some offers were raised to $18,254.0/ton but no deals concluded. 

In the APT market, energy demand has grown rapidly after the epidemic, but coal resources have been tightened, resulting in high smelting costs for enterprises, and thus supporting the bottom of the market. During last week, the rise in the price of raw materials and mines continued to boost the market's rising sentiment. The APT price stood at $313.9/mtu.

In the tungsten powder market, the consumption in the pre-holiday market was gradually flat, but the rising prices of raw materials stimulated companies to follow the rising sentiment. The price of tungsten powder was adjusted to $42.5/kg. In addition, cobalt prices have risen rapidly in the past year, and downstream alloy companies have raised product prices at the beginning of the year due to cost pressures.

Prices of tungsten products on January 17, 2022

Picture of tungsten powder 

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