China Tungsten Price Edges Lower Due to Weak Demand

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price edges lower at the end of the September as participants are not optimistic about the market in the golden September and Silver October. 

On the one hand, due to the weak demand affected by epidemic, climate and other factors since the second quarter, the stock of raw materials has been accumulating continuously; on the other hand, due to the instability of the external economic environment, the prosperity of downstream terminal consumption has decreased and the pressure of supply and demand on the market is obvious, plus with the holiday of National Day, market activity is low. 

The price of tungsten concentrate hovers around $17,692.3/ton. Insiders believe that the outflow of raw material resources in October is relatively tight. During the 20th National Congress, attention will be paid to the environmental protection and safety of mines and smelters. The overlaid capital pressure at the mine end is relatively limited, so the momentum of market stability still exists. However, affected by the weak demand at present, it seems the low trading activity will remain. 

The APT price is consolidated at about $304.2/mtu because the deadlocked situation between upstream and downstream of the industrial chain continues. The market consumption sentiment was low before the festival, and the traders are generally confident. They mainly take a watchful stance and carefully avoid the risk of price inversion.

The price of tungsten powder stands at about $40.6/kg, which is mainly due to the lack of energy in the consumer market. Affected by the turbulence of the international economic and political environment, there is obvious demand pressure on the market. Overlapping the low-end capacity expansion of cemented carbide, enterprises in the fourth quarter mainly conduct destocking operations, and the demand for tungsten raw materials is expected to be poor.

Prices of tungsten products on Sep. 30, 2022

Picture of tungsten wafer 

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