China Tungsten Price Maintains Stability at the end of December 2022

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price is consolidating at a high level at the end of December 2022 when the labor shortage caused by the Covid infection is reflected in various aspects such as enterprise production, warehousing and logistics.

Meanwhile, with the approaching of New Year's Day and Spring Festival holidays, the overall circulation of the tungsten industry is slow, the raw material suppliers continue to hold rised mentality, and the release of market resources is relatively limited; Intermediate smelters passively followed the upward offer, and downstream end-users were relatively cautious in purchasing and stocking under demand resistance. The overall wait-and-see mood of the tungsten market is strong, and the price is not marketed at the end of the year.

On the macro front, affected by factors such as the rebound of the epidemic and insufficient demand, China’s domestic industrial production has slowed down, and the pressure on enterprise operation has increased, but the profit structure has continued to improve. According to the data of the Bureau of Statistics, from January to November, the total profit of industrial enterprises above designated size in the country was 7.71796 billion yuan, down 3.6% year-on-year; The operating income reached 123.96 trillion yuan, a year-on-year increase of 6.7%. At the end of November, the asset-liability ratio of industrial enterprises above designated size was 56.9%, up 0.2 percentage points year-on-year.

Prices of tungsten products on December 29, 2022

Picture of tungsten needles 

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