China Tungsten Price Was Stable in the Middle of December 2022

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was stable on the whole in the week ended on Friday December 16, 2022 when raw material manufacturers have rised mentality with Chinese government easing ‘Zero Covid’ restrictions.

The COVID-19 epidemic has overtaken the common seasonal flu, and related prevention and control measures have also been optimized and adjusted accordingly, creating favorable conditions for market circulation; the downstream of the industrial chain maintains an on-demand purchasing mentality, and the consumer market needs a certain transition period as the epidemic situation changes; negative factors such as Ukrainian-Russian conflicts, inflationary pressures, and economic and trade disputes in the world have affected customer inventory adjustments, and consumers have limited acceptance of strong raw material prices.

On the macro level, the tense situation of the epidemic in November affected industrial production to fall, but the overall stable growth trend has not changed. It is expected that with the optimization of the epidemic prevention and control measures in the market outlook and the implementation of various measures to stabilize the economy, China's industrial economy is expected to continue to recover. 

According to statistics from the Bureau of Statistics, in November, the added value of industrial enterprises above designated size actually increased by 2.2% year-on-year, a decrease of 2.8 percentage points from the previous month, and a decrease of 0.31% from the previous month. The total retail sales of social consumer goods was 3,861.5 billion yuan, a year-on-year decrease of 5.9%, and the rate of decline increased by 5.4 percentage points from the previous month; the national surveyed urban unemployment rate was 5.7%, an increase of 0.2 percentage points from the previous month; from January to November, the national fixed asset investment (excluding farmers) 52004.3 billion yuan, a year-on-year increase of 5.3%, a decrease of 0.5 percentage points from the previous month.

Prices of tungsten products on December 19, 2022

Picture of tungsten trioxide 

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