China’s Domestic Tungsten Price Kept Firm in Early April, 2022

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price kept firm in the week ended on Friday, April 8, 2022 with the impact of increased guide prices for the first half of this month as well as the price hike by cemented carbide companies. 

In addition, Russia-Ukraine conflicts, inflation in the world, and the environment of domestic low-carbon economic development offered strong support to the cost side. Under the tight supply of energy and bulk commodities, the tungsten market is likely to rise again. 

On the macro front, the minutes of the European Central Bank's March monetary policy meeting showed that the current monetary policy stance is still very loose, and inflation is expected to remain above the target level in 2023. Many members felt that the current high level of inflation and its persistence called for immediate further steps to normalize monetary policy, and that the end of the asset purchase program in the summer could pave the way for a rate hike in the third quarter. The minutes of the Fed meeting showed that most officials believed that one or more rate hikes by 50 basis points may be needed.

Prices of tungsten products on April 11, 2022

Picture of tungsten alloy rod 

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