China Tungsten Price Was in the Upward Trend in Early January, 2022

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the first trading week of 2022 began on Tuesday January 4 in the wake of an increase of new guide prices from association and listed tungsten companies for this month. 

Meanwhile, environmental protection, energy and other cost factors supported the bottom of product prices, and the overall performance of the tungsten market was relatively stable. However, market trading is weak before the Spring Festival. 

Concentrate prices edged higher to $17,936.5/ton and manufacturers are still waiting for further increase based on expectations of environmental protection requirements, rising commodity prices, scarcity of resources, and the release of demand for traditional infrastructure and new infrastructure. But downstream customers have poor stocking performance before the holiday and market liquidity has weakened.

In the APT market, large enterprises’ long-term contract prices prompted trading prices standing at about $304.9/mtu with some offers heading to $313.9/mtu. The supply and demand of the industrial chain are still in a stalemate and thus the operating rate of the smelter will be appropriately reduced before the holiday, and the demand increase will be limited. 

In the tungsten powder market, the smelter's offer was deadlocked at $41.7/kg, and the sentiment of receiving goods at the back end was relatively flat. One the one hand, it is due to tight funds on the market before the Spring Festival; on the other hand, production cost of alloy enterprises is high due to the increase in the price of tungsten and cobalt raw materials.

Prices of tungsten products on January 10, 2022

Picture of tungsten concentrate  

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