China Tungsten Price Was in the Downward Trend in September 2022

Analysis of latest tungsten market from Chinatungsten Online

In September 2022, China tungsten price was in the downward trend on the whole mainly due to the lower-than-expected consumption of tungsten products in the golden September, overstocked pressure as well as the impact of repeated epidemics, geographical conflicts, economic and trade frictions and other external environmental shocks. 

In the first three quarters of this year, the price of tungsten products fluctuated as a whole. The ups and downs of the market more reflected the lack of bullish factors in the market and the significant increase in uncertain factors. The rising market in the first quarter was mainly due to the pressure of disruptions in the global supply chain and the transmission of cost factors; the falling market in the second quarter was mainly due to the impact of the spread of the epidemic, constrained logistics and weak demand; the market in the third quarter generally showed an upward trend and then a downward trend. The main feedback from the previous state was that the market sentiment gradually recovered from the bottom in the second quarter. However, due to the low degree of cooperation on the demand side, there was a partial loss of confidence in the market.

The growth momentum of the tungsten market demand in the fourth quarter are still unclear, mainly due to the limited external positive momentum. The global real economy has been hit hard, the cost of energy and raw and auxiliary materials is high, the industrial manufacturing economy is shrinking, and the game between China and the United States is expected to heat up. The tungsten industry faces many challenges. 

Chinatungsten Online research found that companies will continue to destock in the fourth quarter, and have poor expectations for export consumption in Japan, South Korea and other places. Focusing on the implementation of the 20th National Congress in October, the expectation that domestic policies will continue to exert force may boost the bottom of the tungsten market to remain firm.

Prices of tungsten products on October 8, 2022

Picture of tungsten concentrate 

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