China Tungsten Price Stabilized in Early September After a Slight Decline

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price maintained stability in early September after a slight decline in the second half of August with the support of the cost side. As the demand continued its weakness, the market is expected to stabilize before the holiday of Mid-Autumn Festival. 

In the tungsten concentrate market, purchasing plans were made based on actual demands and the supply of raw materials kept tight. Concentrate price hovered around $18,153.8/ton. 

In the APT market, the cost of raw materials, mines and auxiliary materials is still at a high level, and spot trading prices stabilized at about $309.4/mtu as downstream buyers remained low buying appetite. 

In the tungsten powder market, Chengdu and other places faced repeated pressure from the epidemic after the high temperature power cut and shutdown, which affected the consumption of some alloy factories. Affected by the mismatch pressure among cost, supply and demand, the tungsten powder market is likely to stabilize in the short term. 

In terms of macroeconomics, (1) The prosperity level of the domestic manufacturing industry has slowly recovered. According to the statistics of the Bureau of Statistics, China's comprehensive PMI output index in August was 51.7%, down 0.8 percentage points from the previous month; the manufacturing PMI was 49.4%, up 0.4 percentage points from the previous month; The manufacturing business activity index was 52.6%, down 1.2 percentage points from the previous month, but still in the expansion range, and the non-manufacturing industry recovered for three consecutive months. (2) High inflation in the market continues to suppress economic recovery. It is reported that the CPI in the euro zone rose by 9.1% year-on-year in August, hitting a new record high; Italy's CPI rose 8.4% year-on-year in August, and inflation continued to accelerate; France's August CPI rose 5.8% year-on-year, an increase of 5.8% year-on-year. It narrowed for the first time this year; South Korea's CPI rose 5.7% year-on-year in August, rising for seven consecutive months.

Prices of tungsten products on Sep. 5, 2022

Picture of tungsten needles 

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >