China’s Ferro Tungsten Price Declines Slightly in Late April, 2022

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices in the Chinese market turn from stabilization to weakness on April 20, 2022 with the impact of many instabilities in the world. 

On the one hand, with the impact of extreme weather events as well as the conflict between Russia and Ukraine, the global energy and food supply chain problems are relatively serious. Under the pressure of global inflation, insiders should pay careful attention to the currency adjustment measures of various economies. The cost pressure of the tungsten industry will not be relieved in the short term.

On the other hand, it is about the impact of repeated epidemics on the upstream and downstream consumption of the industrial chain and domestic and foreign logistics capacity. As an important industrial base and a world trade port city in Shanghai, the recent epidemic and related closure and control measures have had a huge impact on the operation of industries such as automobiles and semiconductors, affecting the weakening of the demand for upstream related tungsten products such as cemented carbide.

Recently, Shanghai has started to resume work and production. Among the first batch of 666 enterprise, the automobile industry chain companies accounted for more than 1/3. However, due to the limited number of employees entering closed-loop production, the scale of work and production resumption in Shanghai and surrounding areas has not yet fully recovered. The consumption expectations of tungsten alloy ends are still under pressure.

The International Monetary Fund (IMF) said in its latest report that global economic growth will slow significantly in 2022 due to the humanitarian crisis triggered by the conflict in Russia and Ukraine and Western sanctions against Russia. The global economy is expected to grow by 3.6% in 2022, down 0.8 percentage points from the January forecast. At the same time, the global economy is expected to grow by 3.6% in 2023, down 0.2 percentage points from the previous forecast.

Prices of tungsten products on April 21, 2022

Picture of tungsten granule 

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >