China's Tungsten Powder Price Stabilizes at the end of November

Analysis of latest tungsten market from Chinatungsten Online

China's ferro tungsten and tungsten carbide powder prices are unchanged from the previous trading day. although raw material suppliers try to bottom out, downstream end users keep cautious sentiment and thus the whole market activity is low. 

Tungsten concentrate price was tried to raise to $/ton with rare deals concluded. APT price hovers around $ /mtu and smelting factories would like to support the market. The offer on the cost side moved up slightly, but the enthusiasm of intermediate traders and downstream users to enter the market was limited. Tungsten powder price stands about $/kg when trading activity increases boosted by relative active in raw material side and end users' inquiry. 

It is worth noting that the procurement increment in the tungsten market during the week may be a retaliatory replenishment of the previous downturn, or an advance overdraft of the stock demand before the New Year's Day. The positive signal of the market is not clear, and the sustainability of the market adjustment is limited.

On the macro level, S&P global data showed that the manufacturing PMI in the euro area in November was 47.8. Although there was a slight recovery on a month-on-month basis, it was still in the contraction range since July, indicating that local commercial production activities continued to contract and the risk of economic recession continued to increase.

Prices of tungsten products on November 25, 2022

Picture of tungsten pins 

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