China Tungsten Price Stabilized in June After a Continuous Decline in the Second Quarter

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price kept stable on the whole in the week ended on Friday, July 01, 2022 after a continuous decline in the second quarter. 

On the supply side, production companies took the initiative to overhaul or reduce production in order to stabilize market price, and the spot supply has tightened; on the demand side, the domestic economic recovery has boosted terminal demand, but the global interest rate hike and economic recession worries have suppressed the consumer market; macroscopically, the uncertainty brought by the epidemic and the conflict between Russia and Ukraine continues to put pressure on the economy, and the overall risk appetite in the metal market has decreased recently.

In the tungsten concentrate market, carbon neutrality requirements and high inflation expectations made production costs of mining and smelting enterprises increased; China’s growth stabilization measures have accelerated the progress of infrastructure construction in various places, and the market demand prospects are positive. Holders have strong intentions to support the market, but downstream terminals have limited follow-up steps in receiving goods, and the market resource circulation remains in a relatively slow range. There is still pressure for the tungsten concentrate market to break through the $16,923.1/ton. 

In the APT market, buyers make their purchasing plans mainly based on actual needs and smelting factories face great pressure of price inversion as the tension of the energy supply has led to continued high cost of raw materials. Most traders now remain cautious sentiment and price will stabilize at $292.0/mtu in the short term. 

In the tungsten powder market, the resumption of work and production has promoted the release of production and demand in industries such as automobile and equipment manufacturing. However, due to the impact of high temperature weather and external uncertainties, the consumption release of the cemented carbide industry still lags behind the production capacity of raw materials. Market activity was low and price hovered around $39.1/kg.

Prices of tungsten products on July 4, 2022

Picture of tungsten trioxide 

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