China Tungsten Price Was in the Downward Trend in the Middle of October 2022

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the downward trend in the week ended on Friday, October 14, 2022 mainly due to continued weakness in the demand side globally. 

In addition, the continued spread of epidemic in China, international geopolitical conflict and global currency adjustment situations are severe and complicated, and the uncertain risks on the macro level still exist, which dampens the market trading confidence. In the short term, most manufactures and trading companies mainly destock, waiting and seeing the possibility of favorable policies during the meeting next week.

On the macro side, according to data from the U.S. Department of Labor, the U.S. consumer price index (CPI) in September this year increased by 0.4% month-on-month and 8.2% year-on-year. Among them, excluding unstable factors such as fuel and food, the core price index reached a 40-year high, an increase of 0.6% month-on-month and 6.6% year-on-year. The core driving force of US inflation has shifted from energy prices to core CPI, reflecting the difficulty of inflation control and the possibility of continuous interest rate hikes, and the uncertainty of global economic recovery will further increase.

Prices of tungsten products on October 17, 2022

Picture of tungsten plate 

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