China Tungsten Market Was in a Stalemate in Early December 2022

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market was in a stalemate overall in the week ended on Friday December 2, 2022 due to both weakness in the demand and supply sides. Most product prices stabilized with rare deals concluded in the market. 

The weak supply is due to the reduction of production by merchants and the low willingness of manufacturers to sell at low prices. On the demand side, the consumption market continues to slump due to the multi-point spread of the epidemic and the cooling of the economic climate. The overall trading activity of the tungsten products industry is not high, and the market is caught in wait-and-see atmosphere. Some demand may be released during the traditional stocking cycle in December, but the overall momentum is still expected to be limited, and attention should be paid to external environmental risks.

In the tungsten concentrate market, miners and smelters have strong rised mentality, and made offers at around $16,176.5/ton. But it is still difficult to negotiate high-level transactions. Traders are cautiously watching and seeing downstream consumption and peripheral risks, and market transactions are basically based on rigid needs.

In the APT market, the ore price has supported the market to pick up. The external economic and trade risks and the consumption situation of alloys have not improved yet. The confidence in trading on the market is still under pressure and market adjustment space is limited. Some upward exploration quotations have not been recognized by downstream. Market price hovers around $277.5/mtu. 

In the tungsten powder market, the strong market intention of raw materials has driven market confidence to recover. However, due to the current complicated epidemic situation and poor global economic expectations, the consumption of alloys and their downstream products continues to be under pressure. The price of tungsten powder has been consolidated at $37.5/kg. 

Prices of tungsten products on December 5, 2022

Picture of tungsten needles 

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