Tungsten Carbide Powder Price Declines Slightly at the End of September 2022

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices in the Chinese market are in the downward trend affected by the uncertainty of the overseas economy as well as the holiday of National Day. 

The pace of market investment has slowed down, downstream terminals have maintained just-needed purchases, and the consumer market is under significant pressure, which has forced the raw material market to be under pressure. The pressure on APT and alloy products inventory has increased, and the export volume has shrunk. Therefore, the industry's expectations for the overall prosperity of the tungsten industry in the fourth quarter are not high.

Statistics from the Bureau of Statistics show that from January to August, industrial enterprises above designated size achieved a total profit of 5,525.40 billion yuan, a year-on-year decrease of 2.1%; industrial enterprises above designated size achieved operating income of 87.89 trillion yuan, an increase of 8.4% year-on-year. At the end of August, the assets of industrial enterprises above designated size totaled 150.99 trillion yuan, a year-on-year increase of 9.6%; the asset-liability ratio was 56.8%, a year-on-year increase of 0.2 percentage points.

In the international market, the epidemic and the conflict between Russia and Ukraine have exacerbated global inflationary pressures. The latest mid-term economic outlook report of the Organization for Economic Co-operation and Development (OECD) stated that as the energy and inflation crises are likely to intensify and trigger economic recession in major economies, the global economic growth will slow down more than previously expected. The global economic growth rate is expected to be only 3% in 2022, and the forecast for growth in 2023 is lowered to 2.2%.

Prices of tungsten products on Sep. 29, 2022

Picture of tungsten powder 

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