China’s Ferro Tungsten Price Stabilizes in the Middle of December 2022

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten powder prices show a stable trend for the time being, mainly due to the strong rised mentality of raw material manufacturers. 

Relatively speaking, the consumption enthusiasm of downstream end users has not yet been improved significantly. On the one hand, due to the residents’ epidemic prevention mentality, the recovery process of market demand has been delayed, and the cycle from New Year’s Day to the Spring Festival may bring the peak of the domestic epidemic situation; on the other hand, due to international geopolitical risks and global high inflation pressures, the demand for manufacturing has been suppressed, and the stocking up is not active before the festival. 

On Dec. 14, the government issued the "Strategic Planning Outline for Expanding Domestic Demand (2022-2035)", proposing that the main goal of implementing the strategy of expanding domestic demand during the "14th Five-Year Plan" period is to promote consumption and investment and achieve new breakthroughs in the scale of domestic demand; improve the distribution pattern , the potential of domestic demand is continuously released; the quality of supply is improved, and domestic demand is better met; the market system is improved, and domestic demand is stimulated to achieve remarkable results; the economic cycle is smooth, and the efficiency of domestic demand development continues to increase.

Consumption is the main vehicle driving economic growth, and it is also the lasting driving force for the development of the tungsten industry. With the adjustment of China's epidemic prevention and control measures, the consumption potential of all walks of life is gradually released, and the stimulus of relevant favorable policies is superimposed. The overall expectation of the industry for the domestic economy next year is to rebound from the bottom. It is expected that with the economic recovery, the demand for related tungsten products will increase. 

However, the state of the global economy is still affected by risk factors such as overseas geopolitics and monetary tightening. In December, the pace of interest rate hikes in the United States, a major economic powerhouse, slowed down slightly, alleviating the industry's concerns about high inflationary pressures. However, under the situation of Russia-Ukraine conflict and energy tension in Europe, the sustainability of overseas economic slowdown remains to be seen.

Prices of tungsten products on December 16, 2022

Picture of tungsten needles 

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