China Tungsten Price Was in the Downward Trend in October 2022

Details: Category: Tungsten's News; Published on Wednesday, 02 November 2022 09:35

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the downward trend in October 2022 mainly due to weak demand both at home and abroad. Prices of tungsten primary commodities dropped, the operating rates of smelting enterprises, powder and alloy enterprises declined, and market participants mainly destocked.

The policy news released during the major meetings in October had relatively limited support for the market. With the gradual recovery of the release of mine-end resources after the meeting, the pressure on the market fundamentals was still severe, and the instability in macro was not improved.

At the end of the October, the market's wait-and-see atmosphere became stronger. With the narrowing of product profit margins, traders' intention to build a bottom has increased, and the market profit adjustment tends to be cautious. At present, most traders mainly wait and see the status of demand side as new guide prices from listed tungsten companies.

In October 2022, the average price of 65% wolframite concentrate was $16,764.7/t0n, down 4.95% month-on-month and 0.89% year-on-year; the average price of 65% scheelite concentrate was $16,088.2/ton, down 5.03% month-on-month and 0.91% year-on-year; the average price of ammonium paratungstate (APT) was $283.0/mtu, down 3.68% month-on-month and 2.18% year-on-year; the average price of tungsten powder was $38.1/kg, down 2.72% month-on-month and 1.74% year-on-year; the average price of tungsten carbide powder was $37.7/kg, down 2.98% month-on-month and 1.99% year-on-year; the average price of 70 ferrotungsten was $25,102.9/ton, down 2.85% month-on-month and up 2.89% year-on-year; the average price of tungsten bar was $49.3/ton, down 1.39% month-on-month and up 9.93% year-on-year.

Prices of tungsten products on November 1, 2022

China tungsten price photo