China Tungsten Price Remained Weak Adjustment at the End of October 2022

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained weak adjustment in the week ended on Friday, October 28, 2022 as both supply and demand sides are under pressure. With the decrease in tungsten raw material product profits, sellers are not willing to reduce their offers. 

Although affected by a series of unstable factors such as repeated epidemics, global inflation, currency tightening, and geographical conflicts, the global economic and trade environment continues to be under pressure. The demand for the tungsten market in the fourth quarter is expected to be lower than in previous years. However, the market has continued to decline since the end of August, the operating rate of tungsten primary products has decreased, and the consumption vitality of cemented carbide and its back-end products is slowly recovering, the industry believes that the market outlook has a certain chance to rebound. 

On the macro level, statistics from the Bureau of Statistics show that from January to September, industrial enterprises above designated size achieved a total profit of 6,244.18 billion yuan, a year-on-year decrease of 2.3%. Among them, the mining industry realized a total profit of 1,246.96 billion yuan, a year-on-year increase of 76.0%; the manufacturing industry realized a total profit of 4,625.96 billion yuan, a decrease of 13.2%; the electricity, heat, gas and water production and supply industry realized a total profit of 371.25 billion yuan, an increase of 4.9%. 

Prices of tungsten products on October 31, 2022

Picture of yellow tungsten oxide 

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