Tungsten Ore Price Fell in the Chinese Market Affected by COVID-19

Analysis of latest tungsten market from Chinatungsten Online

The tungsten bar and tungsten powder prices in the Chinese market maintain stability as the trading sentiment is greatly affected by the continued spread of COVID-19. With the approaching of May Day holiday, the market is expected to stabilize in the short term.

In the tungsten concentrate market, the external financial environment is volatile, and the supply chain is still affected by the epidemic and geo-risks. The market cost side is expected to continue to be firm, but the demand side restrains the market trend. Tungsten ore price fell below $19,354.8/ton. 

In the APT market, the cost side weakens slightly and the demand side continues to be bearish. Smelters are still worried about the supply chain pressure of energy and auxiliary materials and thus remain cautious sentiment in transactions. At present, most offers hover around $328.0/mtu with limited orders concluded. 

In the tungsten powder market, affected by the epidemic, it is difficult for the cemented carbide products whose prices have been raised at the beginning of April to be sold. The market sentiment has weakened cautiously, and buyers are not active in taking the initiative to receive and replenish the goods, which affects the price of raw material tungsten powder consolidation at around $44.8/kg. 

In terms of news, the China Federation of Logistics and Purchasing pointed out that in the first quarter, the total social logistics was 84.0 trillion yuan, a year-on-year increase of 6.2%. In terms of scale, the ratio of total social logistics to GDP rose to 3.1, the highest level since 2020. Since March, the international environment has become more complex and severe, domestic epidemics have occurred frequently, and the growth rate of logistics supply and demand has been steady and slowing down. Overall, the logistics scale continued to expand in the first quarter.

Prices of tungsten products on April 28, 2022

Picture of tungsten rod

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