China Tungsten Price May Be Affected by Russia-Ukraine Relations in February

Details: Category: Tungsten's News; Published on Friday, 25 February 2022 09:27

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues its stability on February 23, 2022 in the wake of rational purchasing sentiment of buyers and prominent cost pressure faced by manufacturers. In the short term, the market is expected to be quiet when opportunities and risks coexist on the policy side.

In the tungsten concentrate market, mining enterprises resume operation gradually, but spot liquidity remains slow. Offers continues to be kept at high level of $18,888.9/ton with the support of high cost.

In the ammonium metatungstate (APT) market, raw materials are available for smelting factories and their stocks of products increase because the demand keeps low. As the cost of raw and auxiliary materials is still strong, the energy problem in winter is still severe, and the environmental protection requirements are becoming more and more strict, manufacturers are cautious to avoid the risk of price inversion. Market offers mainly refer to guide prices from listed companies.

In terms of macroeconomics, in addition to the epidemic, the market has recently paid more attention to geo-risks and news of US interest rate hikes, especially Russia-Ukraine relations. The increase in external risks affects the sentiment of market participation. The industry is worried that the energy shortage problems such as oil and natural gas in Europe will intensify, which will further affect the production capacity and smelting costs of non-ferrous metals such as tungsten. In addition, the transportation capacity to Europe and the Middle East may also encounter resistance. Exports of raw materials and alloys may be affected.

Prices of tungsten products on Feb. 24, 2022

China tungsten price image