The Tungsten Price in China Stabilizes with the Recovery in Demand

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price in China stabilizes temporarily with the gradually recovery in the demand market that are disturbed by the spread of the epidemic in many places in China and the pressure of global economic recession. 

In the tungsten concentrate market, there is a stalemate in the spot trading, the stockholders seek shipments with a small profit, and buyers are cautious to purchase as needed. The liquidity of spot resources is limited on the whole. Meanwhile, the pressure of environmental protection and the decrease in the grade of resources and their non-renewable nature support the market to stabilize the price. However, the buyer is seeking lower prices and it is difficult to conclude deals at $16,176.5/ton. 

In the APT market, smelters are cautiously avoiding the risk of price inversion. The recent downturn in downstream end customers has affected smelters' offers. The mainstream market focus is stalemate at around $279.2/mtu. Due to concerns about external uncertainties, the market's purchase and sales performance continued to be sluggish. 

In the tungsten powder market, the destocking operation of powder and alloy companies has increased. Due to the continued sluggishness of back-end consumption momentum, and more external uncertainties and risks continue to shake the confidence in the market, the spot trading in the market is mainly based on demand, which affects the raw material side. The short-term tungsten powder price will consolidate at around $37.5/kg.

On the macro side, the International Energy Agency said that the world is in the "first real global energy crisis" and that the global energy market still needs energy from Russia to meet demand; rising global energy prices are driving soaring prices for things like food and services in many parts of the world.; continued high energy prices and supply shortages will be a persistent risk for Europeans as the northern hemisphere enters winter. China Tungsten Online believes that a series of reactions caused by the energy crisis, such as price hikes, inflation, economic and trade conflicts, and currency tightening, will be transmitted to the consumer market and impact the real economy. Under this background, the stable operation of the tungsten industry continues to face challenges. 

Prices of tungsten products on October 28, 2022

Picture of yellow tungsten oxide 

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