China’s Tungsten Powder Price Stabilizes in Early July 2022

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price remains stable as the relationship between supply and demand continues to be in a stalemate. Most raw material sellers keep taking watchful stance while downstream buyers are worried about the consumption off-season and the uncertainty of the external environment. 

At present, mining enterprisers make offer at $16,769.2/ton; mainstream APT price is about $292.0/mtu; tungsten powder price hovers around $39.1/kg and ferro tungsten price is about $26,153.8/ton. 

On the macro level, energy shortages have led to rising global prices. The United Nations Conference on Trade and Development (UNCTAD) released a report that from February to May 2022, the transportation prices of bulk commodities such as grains rose by nearly 60%. At the same time, it is expected that the simultaneous rise in food prices and freight will lead to a 3.7% increase in global food consumer prices. In addition, the GDP tracking model of the Federal Reserve Bank of Atlanta shows that the U.S. economy may have fallen into recession, with its economic output shrinking by 1.6% and 2.1% in the first and second quarters of this year, respectively.

The rise in global prices has led to increased cost pressures in the tungsten products industry, but the recent increase in interest rates by major economies to curb soaring inflation has a positive impact on the metal market sentiment. The overall risk of inversion in the tungsten market has intensified, and trading and negotiation are still cautious.

Prices of tungsten products on July 5, 2022

Picture of tungsten trioxide 

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