China Tungsten Price Was in the Downward Trend at the End of September 2022

Details: Category: Tungsten's News; Published on Monday, 26 September 2022 18:14

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the downward trend in the week ended on Friday, September 23, 2022 with the impact of weak demand, repeated COVID-19 in domestic market, geostrategic conflict, economy recession and other factors. In addition, China’s state-owned tungsten companies also lowered down their long-term contract prices for the second half of this month.

However, under the pressure of inflation and environmental protection, the bottom of the tungsten product market is still supported, and the domestic consumption promotion measures are gradually effective, which is expected to promote the demand for infrastructure and other fields in the market outlook. Therefore, the willingness of the holders to cut profits is relatively limited. Investments will generally be negotiated cautiously as needed before the holiday of National Day.

In the tungsten concentrate market, mining enterprises are cautious in increasing their resource. During the National Day and the 20th National Congress of the Communist Party of China, mine safety management and control have been upgraded, limiting production capacity to a certain extent, and the market supply is not expected to be increased.

In the APT market, market price declined on the whole and traders were not active in trading when the new guide prices also were lowered down. The current APT price is about $306.0/mtu.

In the tungsten powder market, the expected failure of the peak season ‘golden September’ has shaken the consumer sentiment at the alloy end. The buyer's bargaining power has increased, and the powder price has consolidated at around $40.9/kg. market participants will mainly wait and see the supply and demand game, macro news and the risk of cost inversion.

Prices of tungsten products on Sep. 26, 2022

China tungsten price photo