Tungsten Carbide Powder Price Stabilizes with the Approaching of Mid-Autumn Festival

Details: Category: Tungsten's News; Published on Friday, 09 September 2022 16:13

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten carbide powder prices continue to remain stable on September 8, 2022 as trading activity is low with the approaching of Mid-Autumn Festival.

First, due to global inflation and supply chain tension, the production and operation costs of enterprises are high, especially the pressure of price inversion of intermediate smelters. At present, the high-level offer of tungsten concentrate is stalemate at $18,153.8/ton with rare deals concluded; APT price hovers around $309.4/mtu and some traders are profit-taking.

Second, the demand shows no signs of recovery when the overseas economic pressure has led to a relatively sluggish consumer market sentiment, and industrial activities have shrunk significantly under the European energy crisis. High uncertainty over Russia-Ukraine situation and tight gas supplies cloud industrial outlook in Europe's largest economy, Germany, whose second-quarter GDP growth was only 0.1% quarter-on-quarter. Up to now, the production of the automobile industry has been reduced by nearly 5% during the year, and the production of energy-intensive industries has been reduced by nearly 7%, all of which limit the application of tungsten products such as cemented carbide to a certain extent.

Third, due to the recent repeated epidemic in China, the circulation of tungsten market has further slowed down. Jiangxi, the world's tungsten capital, and Chengdu, one of the major cemented carbide producing areas, are partially implementing temporary static management due to the epidemic, which may exacerbate the current weak supply and demand situation in the market. The announcement of the Ganzhou Economic and Technological Development Zone shows that the global static management will be implemented from 8:00 on September 7th to 8:00 on the 10th, and the Mid-Autumn Festival holiday will be held from the 10th to the 12th.

Prices of tungsten products on Sep. 9, 2022

tungsten carbide powder price photo