China Tungsten Price Was in the Upward Trend on Boosted Confidence

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the week ended on Friday, August 05, 2022 when the confidence of sellers was boosted despite of continued weak demand. 

As of August 5, 2022, concentrate price increased by 2.68 percent, APT price increased by 1.74 percent, ferro tungsten price increased by 1.18 percent, which cobalt powder price declined about 2.90 percent due to sluggish demand. 

On the positive side, first, the rise in prices under the pressure of global energy shortage and high inflation has affected the Chinese market to a certain extent, superimposed on environmental protection factors, the cost support of raw materials is strong; second, the production reduction and maintenance work in the primary tungsten market and the rised sentiment of sellers have made the spot resources relatively tight; third, the long-term contract price of APT of representative tungsten enterprises in China at the beginning of the week was significantly increased, which further boosted the smelting enterprises facing the pressure of price inversion; fourth, although the impact of international geopolitical risks on the global economy has affected the release of manufacturing demand, based on the attributes of strategic metals, the sentiment of raw material holders has increased. The industry has certain confidence in the restoration of market demand.

On the negative side, first, affected by the traditional high-temperature and off-season effect, the overall consumption momentum of the market is currently weak; second, unstable risks such as the epidemic and global local conflicts have put pressure on the international trading environment, and energy supply and freight conditions have tightened to a certain extent; third, the poor global economic climate has affected the enthusiasm of investors and buyers to consume, and the industry is worried about the pressure of global inflation and economic recession.

Prices of tungsten products on August 8, 2022

Picture of tungsten trioxide 

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