China’s Xianglu Tungsten Raised its Long-term Contract Prices for the Second Half of June

Details: Category: Tungsten's News; Published on Wednesday, 29 June 2022 08:56

Analysis of latest tungsten market from Chinatungsten Online

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At the beginning of the week, China tungsten price keeps stable affected by cost pressures such as environmental protection supervision and rising prices, as well as constraints on the demand side such as the epidemic and geographical conflicts, despite the new guide prices for the second half of this month were raised slightly.

China’s Xianglu Tungsten released its long-term contract prices for the second half of June: 55% black tungsten concentrate price was $16,615.4/ton, up $153.8/ton; 55% scheelite concentrate price was $16,461.5/ton, up $16,615.4/ton; APT price was $292.0/mtu, an increase of $2.6/mtu compared with the first half of this month.

Recently, China's policy of stabilizing growth is being implemented at an accelerated pace, effectively promoting the recovery of the domestic consumer market. However, due to the impact of high temperature and rainy weather, the overall demand release is still hindered; product companies are facing pressure from energy and labor costs, as well as challenges from international market volatility and sluggish demand.

Macroscopically, (1) the copper-to-oil ratio fell to 80 last Friday, the lowest level in more than seven years. A decline in the value often corresponds to the recession of the economy, and the Federal Reserve will adopt a monetary policy of cutting interest rates, putting pressure on commodities. (2) The International Monetary Fund (IMF) believes that the U.S. economy will slow down this year and next, and recommends that the U.S. side cancel the tariffs it has imposed on its trading partners over the past five years, especially when inflation is high and supply chains are strained.

Prices of tungsten products on June 28, 2022

China tungsten price photo