China Tungsten Price Stabilizes Affected by Epidemic and Geopolitical Conflicts

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China’s domestic tungsten price remains unchanged from previous week when the whole market is caught in heavy wait-and-see atmosphere. The epidemic and geopolitical conflicts are intensifying the uncertainty and risks in the market, including financial markets, energy prices, commodity trends, and logistics capacity, etc.

On the macro side, the world has recently focused on the situation in Russia and Ukraine. The international financial market and commodity trends have been deeply disturbed, and the tungsten industry has also been affected. As the world's second largest tungsten resource reserve country and the third largest tungsten producer, Russia's supply of tungsten resources to foreign countries (especially European countries) will decrease, which may boost international tungsten prices to rise; as a major energy country in the world, Russia's external crude oil and coal supply chains are at risk of disruption, which will intensify global inflationary pressures and pressure on raw and auxiliary materials costs, and increase the production investment of tungsten smelting enterprises; the constant global conflicts will stimulate the development of the military industry and drive important strategic resources Consumption demand of tungsten and rare earth.

However, the SWIFT ban hinders cross-border payment and settlement of Russia’s imports and exports, and at the same time damages the interests of foreign trade companies including Chinese companies that have business dealings with Russia. The market faces huge uncertainty and consumption reduction risks.

Prices of tungsten products on March 1, 2022

Picture of tungsten granule 

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