China Tungsten Price Declined in Late April on Continued Spread of Epidemic

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the downward trend in the week ended on Friday, April 22, 2022 because the continued spread of epidemic in Shanghai, Jilin and other places affected the demand for hard alloys such as tools and molds in the automobile and other industries, which increased the profit-taking sentiment on the tungsten raw material side. 

In addition, the long-term contract prices for the second half of April from listed tungsten companies were declined slightly, which affected the whole market trading sentiment. 

Recently, repeated epidemics, conflicts between Russia and Ukraine, extreme events, and financial market turmoil have made the external environment extremely unstable. The global inflationary pressure will not be relieved in the short term, and the cost pressure of energy and raw and auxiliary materials will remain. In anticipation of increased supervision, the price of tungsten products will remain firm at the bottom, and the overall market adjustment space is limited.

On the macro front, according to the National Bureau of Statistics, China's economy grew by 4.8% in the first quarter of this year. Although China’s economic growth rate in the first quarter was affected by the repeated outbreak of the new crown pneumonia in some areas and the complicated evolution of the situation in Ukraine, the Chinese economy still maintained a reasonable growth range.

Prices of tungsten products on April 25, 2022

Picture of tungsten acid 

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