China’s Tungsten Carbide Powder Price Stabilizes in the Middle of November 2022

Analysis of latest tungsten market from Chinatungsten Online

The tungsten carbide powder and ferro tungsten prices remain stable on November 17, 2022. On the one hand, most insiders are waiting and seeing the next move in the demand side; on the other hand, they are focusing on the domestic epidemic situation and the adjustment of related measures, as well as the overseas inflation situation and economic pressure.

Tungsten concentrate sellers are reluctant to reduce product profits and made offers at around $15,882.4/ton; smelting factories are cautious and made offers mainly referring to the long-term contract prices of listed tungsten companies; tungsten powder market is weak when new orders from end users are limited, but trading activity is expected to increase with the improvement of COVID-19 in China. 

On the macro level, according to the National Bureau of Statistics, from January to October, the national consumer price (CPI) rose by 2.0% year-on-year. In October, the national consumer price rose by 2.1% year-on-year, a decrease of 0.7 percentage points from the previous month; and a month-on-month increase of 0.1%. The main impetus for the increase in CPI came from food and increased prices. It is reported that pork prices rose by 51.8% year-on-year in October.

In October, the added value of China's industrial enterprises above designated size increased by 5.0% year-on-year and 0.33% month-on-month; the total retail sales of consumer goods was 4,027.1 billion yuan, a year-on-year decrease of 0.5%; from January to October, the added value of industrial enterprises above designated size increased by 4.0% year-on-year. Domestic industrial production has maintained a recovery trend, and the supporting role of the equipment manufacturing industry is more obvious. In October, the equipment manufacturing industry increased by 9.2% year-on-year, and the added value of the automobile, electronics, and electrical machinery industries increased by 18.7%, 9.4%, and 16.3% year-on-year respectively.

Prices of tungsten products on November 17, 2022

Picture of tungsten needles 

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