China Tungsten Price Was in the Upward Trend in Early July 2022

Details: Category: Tungsten's News; Published on Monday, 11 July 2022 18:37

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the week ended on Friday, July 08, 2022 because suppliers had strong rised mentality affected by the increase in the new guide prices from listed tungsten companies.

In the tungsten concentrate market, suppliers stabilized their offers at $16,923.1/ton with rare deals concluded; smelting factories’ operating rate declined and plus with the high cost, APT offers were tried to raise to $295.5/mtu but actual transactions were concluded at about $292/mtu; in the tungsten powder market, with the increased of price inversion risks, mainstream offers hovered around $39.2/kg.

On the downside, the risk of global stagflation may cause a global recession to weigh on manufacturing demand. 1) The repeated epidemic situation and geopolitical risks have led to increased risk aversion in the consumer market; 2) High inflation and the Fed's clear tightening attitude have reduced consumers' purchasing power; 3) The strength of the US dollar and the downward revision of the stock market weakened the sentiment of commodities, especially metal plates .

On the positive side, China's economic recovery and related incentives are conducive to the sustainable and stable development of the tungsten industry. 1) The successive implementation of China's package of measures to stabilize growth will drive consumption recovery in infrastructure, real estate, and automobiles in the second half of the year; 2) The firm implementation of the general policy of clearing the epidemic situation will help safeguard people's lives and ensure stable economic and social development; 3) Low Carbon environmental protection and safety requirements superimpose rising prices to increase the production input of mining and smelting enterprises, and the cost will be reflected in the price of tungsten products.

Prices of tungsten products on July 11, 2022

China tungsten price photo