China Tungsten Price Remained Weak on Sluggish Market Demand

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price remained weak adjustment based on the current complicated and changeable situation of the economy, exchange rate, geography, and epidemic. 

In the tungsten concentrate market, prices of high-grade resources stand at around $16,029.4/ton with limited supply and deals concluded; the APT price is about $275.8/mtu and market trading is cautious as the cost is high but demand is weak; as the consumption of cemented carbide ends is weak and current complex and severe external environment has brought more challenges to enterprises, tungsten powder market is under pressure and offers are likely to fall below $36.8/kg. 

On the macro side, data from the China Federation of Things showed that the global manufacturing purchasing managers' index (PMI) in October was 49.4%, down 0.9 percentage points from the previous month, and fell for five consecutive months, falling below 50% for the first time since July 2020. The data reflects that the global economic contraction pressure is increasing, especially in Europe and the United States and other places tightening policies exacerbate the risk of global economic recession. Data showed that inflation in the euro zone reached 10.7 percent in October, more than five times the local central bank's 2 percent inflation target.

Prices of tungsten products on November 8, 2022

Picture of tungsten powder 

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