China Tungsten Price Continued to Stabilize in the Middle of October 2022

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price keeps stable when the recent major conferences may activate the domestic market economy and policy expectations. 

However, the international market is still facing the pressure of currency contraction and economic recession, superimposed by disturbance factors such as repeated epidemic and geographical conflicts, the overall market demand is not clear and prices of tungsten products are expected to be weak. 

The tungsten concentrate, ammonium paratungstate (APT) and tungsten powder markets continue to maintain stability with the impact of sluggish demand both at home and abroad. In the short term, the trend is expected to continue. 

Macroscopically, China’s domestic price index hit a new high, reflecting the current high cost pressure in the market, especially in food and energy; however, against the backdrop of high inflation, rapid interest rate hikes and a strong dollar, commodity prices continued to be under pressure, and the tungsten market was affected to some extent. 

According to data from the Bureau of Statistics, China's CPI in September rose by 0.3% month-on-month and 2.8% year-on-year, an increase of 0.3 percentage points from the previous month, hitting a new high since May 2020. Among them, food prices rose by 8.8%, an increase of 2.7 percentage points from the previous month, affecting the CPI rise of about 1.56 percentage points. In September, China's PPI decreased by 0.1% month-on-month and increased by 0.9% year-on-year, a decrease of 1.4 percentage points from the previous month.

Prices of tungsten products on October 18, 2022

Picture of tungsten carbide powder 

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