China’s Domestic Tungsten Price Was Weak on Western Sanctions on Russia

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remained weak adjustment in the week ended on Friday, March 04, 2022 amid low domestic and overseas markets after Western sanctions on Russia. 

In terms of supply and demand, the consumption of end users was lower than expected, and raw material manufacturers’ wiling of shipments was increased as they would like to cash out to reduce risks; in terms of cost, low-carbon environmental protection requirements and the risk of rising prices strongly supported market cost.  

On the macro level, the conflict between Russia and Ukraine and sanctions from Europe and the United States continue to exacerbate the global energy and food crisis, stimulating the prices of bulk commodities, and at the same time creating great uncertainty on the production and trade environment or consumption structure of tungsten product enterprises in the future. The short-term tungsten market is expected to be a stalemate with low trading activity.

Prices of tungsten products on March 7, 2022

Picture of tungsten acid 

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