China’s XiangLu Tungsten Raised Long-term Contract Prices for the First Half of August 2022

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten powder prices continue to keep stable and strong as raw material manufacturers have strong rised mentality, prompting intermediate traders and downstream smelting users passively follow up the quotation. 

The back-end consumers are relatively cautious in following up, due to the current high temperature and off-season effect and overseas energy and funds. Affected by the pressure, the overall sales activity of tungsten products is limited and the actual transaction in the market is not ideal. 

China’s XiangLu Tungsten released its long-term contract prices for the first half of August: 55% black tungsten concentrate price was $17,538.5/ton, up $692.3/ton; 55% scheelite concentrate price was $17,384.6/ton, up $692.3/ton; APT price was $305.1/mtu, up $9.6/mtu compared with the second half of July 2022. 

Macroscopically, (1) tungsten enterprises are facing increasing price pressure. According to data from the National Bureau of Statistics, in July 2022, the national consumer price CPI increased by 2.7% year-on-year and 0.5% month-on-month; among which food prices increased by 6.3% year-on-year and up 3.0% month-on-month; pork prices increased by 20.2% from a decrease of 6.0% in the previous month. The national industrial producer price PPI increased by 4.2% year-on-year and decreased by 1.3% month-on-month. (2) The pressure of global energy shortage and inflation has further intensified. As of Aug. 10, the 120-day "transition period" set by the EU to ban the import of Russian coal has ended. The implementation of the sanctions and the upcoming winter will intensify the pressure on Europe's energy supply.

Prices of tungsten products on August 12, 2022

Picture of tungsten powder 

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