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Analysis of latest tungsten market in China from Chinatungsten Online
The tungsten carbide powder and tungsten bar prices in the Chinese market show signs of rise in early December 2022 despite of quiet market trading. The recent adjustment of domestic epidemic control measures has increased market trade opportunities, but the overall international economic pressure has not yet eased, and consumer market sentiment still needs to be repaired.
The price of high-grade tungsten concentrate is tentatively approaching 112,000 yuan/ton. The spot market continues to be dominated by rigid demand transactions, and the liquidity of resources is average. The supportive sentiment of the holders is transmitted to the downstream, and the overall demand feedback is not yet clear.
The APT price is testing towards the $282.5/mtu mark, but actual transaction prices have not yet reached this point. The market cost momentum has risen, and the demand resistance remains. The short-term market is expected to stabilize.
The price of tungsten powder is testing towards $37.9/kg. Boosted by the increased guide prices from institutions, the market sentiment has increased. However, because the downstream cemented carbide end and its consumer market are not yet clear, actual orders of factories are limited, and the room for market adjustment is relatively limited as well.
70% ferro tungsten price followed and rose to $24,852.9/ton. The atmosphere in the upstream of the industrial chain was slightly active, while downstream consumption was still cautious. Affected by the complex and changeable external environment, the overall trade confidence in the market was low. most participants are waiting for the stocking plans of steel factories.
On the macro front, according to data from the General Administration of Customs, China’s total import and export value in November was 3.7 trillion yuan, a slight increase of 0.1% year-on-year. The growth rate slowed down sharply from 6.9% in October and hit a new low since May. Among them, exports were 2.1 trillion yuan, a year-on-year increase of 0.9%, and imports were 1.6 trillion yuan, a decrease of 1.1%. From January to November, the total value of foreign trade imports and exports was 38.34 trillion yuan, a year-on-year increase of 8.6%. Among them, exports were 21.84 trillion yuan, a year-on-year increase of 11.9%; imports were 16.5 trillion yuan, a year-on-year increase of 4.6%; trade surplus was 5.34 trillion yuan, an increase of 42.8%. ASEAN, the European Union, the United States and South Korea are my country's top four trading partners, accounting for 15.4%, 13.5%, 12% and 4.7% respectively.
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