China Tungsten Price Remained Weak Adjustment Before Mid-Autumn Festival

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained weak adjustment in the week ended on Friday, September 09, 2022 as the whole market was in a stalemate before the Mid-Autumn Festival. 

Recently, the industry has mainly focused on the local epidemic situation in China. Jiangxi, Sichuan and other important tungsten raw materials and cemented carbide production areas were mostly silent before the holiday, which affected the operation of the industry.

In the tungsten concentrate market, mining and smelting enterprises still kept strong rised mentality. On the one hand, it is due to the pressure of rising prices under the background of environmental protection and inflation, which increases the cost support; on the other hand, due to the non-renewable nature and strategic value of resources, suppliers were cautious to release the resources. However, the demand side remained sluggish, and high-grade ore prices mainly stalemated at about $18,153.8/ton. 

In the APT market, compared with the power cuts under high temperature in August, it is expected that the production of enterprises will increase after the Mid-Autumn Festival. As the market production and sales expectations under the pressure of repeated epidemics and global economic recession are uncertain, smelters have limited confidence in trading. In the short term, transaction prices will mainly refer to the new guide prices from state-owned companies. 

In the tungsten powder market, the upstream and downstream of the industrial chain continued to be deadlocked. There are still differences in the mentality of powder merchants. The spot trading and negotiation in the market were mainly based on demand. The economic stabilization measures in the fourth quarter will boost the consumption power of the domestic market, but the uncertainty of the new epidemic and geopolitical risks will still bring challenges to the market.

Prices of tungsten products on Sep. 13, 2022

China tungsten price photo

Picture of tungsten bar 

tungsten bar photo

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