China Tungsten Price Was in the Upward Trend in Early December 2022

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the week ended on Friday December 9, 2022 mainly due to the increase in long-term contract prices from listed tungsten companies as well as increased stocking up of downstream with the end of the year. 

The price of tungsten concentrate was stalemate at around $16,470.6/ton with rare deals concluded at this level; APT price came back to $282.5/mtu and tungsten powder price was adjusted to $38.2/kg. 

At present, the fundamentals of market supply and demand are still at a stalemate, and buyers and sellers have slightly different trading mentalities. Holders maintain an attitude of reluctance to sell and support the market. The outflow of low-end resources is limited, and the continuity of price upward trend is still constrained by the pressure of demand.

Unstable factors at the macro level continue to affect the enthusiasm for market trade. Faced with multiple pressures such as repeated epidemics, geopolitical conflicts, global inflation, energy crises, and exchange rate fluctuations, participants enter the market with a wait-and-see atmosphere. 

During the week, the focus will be on the “New Ten Measures” for the prevention and control of the COVID-19. The optimization and adjustment of the epidemic prevention and control measures is expected to push China’s economy into the fast lane. The high-speed production growth, or the retaliatory growth will come as scheduled, and the consumer confidence will recover, so the demand and price of tungsten products will also rise, and may rebound after the Spring Festival. 

Prices of tungsten products on December 12, 2022

Picture of tungsten powder 

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