China’s Tungsten Powder Price Stabilizes at the Beginning of October 2022

Details: Category: Tungsten's News; Published on Thursday, 13 October 2022 09:15

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten carbide powder prices in the Chinese market continue to be weak on October 11, 2022 as most participants will take a watchful stance with the coming of China’s major meeting this month.

In the tungsten concentrate market, mine trading confidence was hit by weak demand. However, based on the pressure of rising prices and the relative increase in resource concentration, the production capacity of mines was reduced to a certain extent during the superposition of the 20th National Congress, and the overall profit margin in the field gradually narrowed.

In the APT market, the overall demand in the second half of the year was sluggish, superimposed the external instability, the trading sentiment on the market was generally bearish, the operating rate of smelters was not good. In the fourth quarter, smelters are expected to continue to destock.

In the tungsten powder market, with the increase of international geopolitical and economic uncertainty, the market risk appetite has declined, supply and demand have weakened, and the overall trading sentiment has been strong. In the short term, insiders will wait and see for the actual consumption progress of alloy ends in the market outlook.

On the macro side, global inflation, interest rate hikes in major economies, and local geopolitical conflicts combined with repeated impacts from the COVID-19 epidemic have led to a decline in the global manufacturing industry. According to the China Federation of Logistics and Purchasing, the global manufacturing PMI in September 2022 was 50.3%, a decrease of 0.6 percentage points from the previous month. Among them, the growth rate of manufacturing in Europe and the Americas continued to slow down, the manufacturing industry in Africa fell below 50% again, and the manufacturing PMI in Asia rose slightly from the previous month.

Prices of tungsten products on October 12, 2022

tungsten powder price photo