China Tungsten Price Was Stable in Early December on Quiet Demand

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price was stable due to deadlocked supply and demand and cautious sentiment in the market. Mining enterprises and smelters are reluctant to sell their low-price resources while alloy and its downstream end users keep low buying appetite. Most insiders are waiting for the new guide prices from listed tungsten companies. 

In the tungsten concentrate market, mainstream offers were adjusted to above $16,176.50/ton. The market is cautious in buying at high levels, and the supply of low-level resources is reduced. The overall transaction is average, but the room for bargaining is narrowed. 

In the APT market, the psychological price of smelters supported by cost has been raised, but the downstream terminal receiving goods is still mostly based on rigid demand, the overall market liquidity is low, and the market offer is consolidating at around $279.2/mtu with significant transaction resistance. 

In the tungsten powder market, the upstream and downstream of the industry chain continue to be in a stalemate, and the overall profit of the alloy end is limited. Manufacturers operate according to the market, and the focus of trading and negotiation is stalemate at around $37.5/kg.

On the macro level, repeated COVID-19 outbreaks, geopolitical conflicts, extreme climate change, high inflation, and the monetary tightening policies of developed economies dominated by the US dollar have led to significant downward pressure on the global economy. The IMF pointed out that the world economy is slowing down. The annual global economic growth rate is 2.7%, but there is a 25% probability that the actual growth rate will be lower than 2%. It is expected that at least one-third of the countries in the world will fall into economic recession in 2023. The situation in the Asia-Pacific region is relatively good, but it does face the challenges of many unfavorable factors.

Prices of tungsten products on December 6, 2022

Picture of tungsten ore 

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