Pricing of Nickel-based Tungsten Alloy Products Is Greatly Affected by Fluctuations in Nickel Prices

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten concentrate, ammonium paratungstate (APT) and tungsten powder prices mainly keep stable in early March owing to soaring risk aversion in the market, and deals are limited concluded. 

On the supply side, due to measures such as environmental protection supervision and total mining control, the market resources are limited; on the demand side, the slowdown in manufacturing consumption growth and the high cost of raw and auxiliary materials reduce the initiative of downstream consumption, and the market transaction volume is limited; on the macro level, the epidemic and geo-risks continue to disrupt the international trade environment, and participants' risk appetite has declined under the recent violent fluctuations in the commodity market.

The escalated tensions in Russia and Ukraine has affected the restrictions on nickel trading in Russia, plus with the capital market games has caused confusion in the relevant pricing system. This week, "demon nickel" is rampant. The sharp fluctuations in nickel prices have affected the pricing of nickel-based tungsten alloy products. At the same time, production activities in new energy vehicles and alloys that use nickel as an important raw material have been significantly impacted, and the consumption of tungsten products in these areas may face a reduction. 

Prices of tungsten products on March 11, 2022

Picture of tungsten ore 

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