China’s Xianglu Tungsten Raised its Long-term Contract Prices for the First half of April

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices remain firm and stable on April 12, 2022 under interwoven positive and negative factors in the market. Although new guide prices for early April were increased, most participants are cautious towards the outlook. 

China’s Xianglu Tungsten released its long-term contract prices for the first half of April: 55% black tungsten concentrate price was $19,354.8/ton, an increase of $322.6/ton; 55% scheelite concentrate price was $19,193.5/ton, an increase of $322.6/ton; APT price was $337.2/mtu, an increase of $3.6/mtu compared with the second half of March. 

On the positive side, the price increase of cemented carbide products, as well as a new round of increase in the quotations of institutions and large companies, have boosted the market's confidence; factors such as strict environmental protection, energy shortage, the firmness of the bulk commodity market and logistics constrained support the cost side of tungsten products. 

On the negative side, repeated epidemics and local conflicts affect trade flows and global economic recovery, and the release of manufacturing demand is limited; under the pressure of high costs, the consumption enthusiasm of intermediate manufacturers and downstream terminals has been hit to a certain extent.

In terms of macroeconomics, due to factors such as China’s domestic spread of the epidemic and the rise in international commodity prices, the national consumer price index (CPI) rose by 1.5% year-on-year in March, an increase of 0.6 percentage points from the previous month. 

According to the latest report of the World Bank, the conflict between Russia and Ukraine is damaging the global economy. It is expected that the Ukrainian economy will shrink by 45.1% this year, and the Russian economy will shrink by 11.2%. China's economy will contract by 4.1%.

Prices of tungsten products on April 13, 2022

Picture of tungsten oxide 

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