Tungsten Carbide Industry Intelligence Dec.

Tungsten powder: The price for tungsten powder is around RMB269-272/kg whicrhave been consistentlv high since December.
Cobalt powder: The mainstream price range in the market is RMB210000-220000/ton.
which is stable compared to the previous trading day.
Recycle powder: The price of electrolytic WC powder is around RMB230/kg
Tungsten carbide products: The demand for hard alloy is once again weak, and thereis no good factor for it.

Tungsten Carbide Industry Intelligence Nov.

Due to the uncertain macroeconomic environment, tungsten market participants are not optimistic about the near future prospects and do not anticipate any significant new demand until 2024. According to customs data, from January to June 2023, the total export volume of Chinese tungsten products was 10276 tons, a year-on-year decrease of 23%. In July and August, China’s tungsten product exports decreased by 41% and 32% year-on-year, respectively.

Since the second half of 2023, tungsten product orders have significantly decreased. End users have reduced their inventory levels instead of purchasing new products. It’s estimated that there will be no price increase or demand recovery in 2023.

Tungsten Carbide Industry Intelligence Oct.

Recently, the downstream terminal consumption performance of tungsten has remained quiet, with tungsten powder orders sluggish, and enterprises facing difficulties in receiving orders. Prices continue to decline. It is reported that the current reference price for tungsten carbide powder is between RMB 264 to 266 /kg, and the reference price for tungsten powder is between RMB 270 to 272 /kg.

Due to the drag of demand from the alloy end, cobalt powder has been operating at a price but not in the market this week. The mainstream quotes of large enterprises remain within the range of RMB 225 to 235 /kg.

Tungsten Carbide Industry Intelligence Sep.

On September 1^st, seven departments including the Ministry of Industry and Information Technology issued the “Work Plan for Stable Growth in the Machinery Industry 2023 & 2024” which is supposed to drive demand for mechanical equipment.

The demand for cutting tools is expected to warm up major customers and the high-end transformation is progressing smoothly. In some regions from July to August, the impact of high temperature weather on operating rates has weakened. At the same time, Q4, as a traditional peak processing season, has increased operating rates, and dealer restocking is expected to improve, driving a rebound in tool demand.

Tungsten Carbide Industry Intelligence Aug.

At present, the tungsten market is about to enter the traditional off-season, and the raw material end may continue to reduce output due to multiple factors such as high temperature, power restrictions, rainy season, and environmental protection.

The price of tungsten powder remains stagnant at the RMB270/kg level, and customers remain concerned about tungsten carbide consumption. In addition, they are cautious about cost side pressure, with limited new orders in the market.

Tungsten Carbide Industry Intelligence July.

China Tungsten Market Briefing for the First Half of 2023

In the first half of 2023, China’s import and export data significantly slowed down due to external influences. APT prices hovered between RMB 173500 to 183000 /ton, with the lowest point appearing in early April and the highest point appearing in mid February.

China’s manufacturing industry is expected to resume growth momentum in September which makes tungsten prices show a trend of first suppressing and then increasing in the second half of 2023.

Tungsten Carbide Industry Intelligence June.

Factors Affecting the Properties of Tungsten Carbide

The factors affecting the performance of tungsten carbide include WC powder percentage, Co percentage and WC grain size.

Usually, with the increase of WC powder percentage, the hardness and wear resistance of tungsten carbide increase, but their toughness decreases; As the WC grain size decreases, the hardness of the alloy increases, and vice versa; As the cobalt percentage increases, the toughness of the alloy improves and the hardness decreases. Conversely, the toughness decreases and the hardness increases.

Tungsten Carbide Industry Intelligence May.

China tungsten price continues to be stable at the beginning of May. In the tungsten powder market, the transaction price for WC powder is RMB270/kg; The transaction price for W powder is between RMB275-277/kg.

The performance of cemented carbide orders was calm, with a lack of enthusiasm for restocking, which dragged down the slight decline in the consolidation of raw materials.

In summary, downstream demand has dragged down market transactions, and the short-term market has shown signs of stability and decline.

Tungsten Carbide Industry Intelligence Feb.

In February 2023, China tungsten market generally showed a trend of rising first, then falling, and then maintaining stability, and the volatility of the market was relatively narrow. In March, the market will mainly focus on the news of the two sessions. The tightening of mine production management and control has tightened the supply of raw materials to a certain extent, helping the holders to survive the market, but the status of the transaction implementation remains to be seen.

Tungsten Carbide Industry Intelligence Feb.

China tungsten price continues to be stable at the beginning of February. Last week, many cemented carbide companies successively issued notices on product price increases because the price of raw materials continued to rise and the cost of production was pushed up.

The price increase has activated the bullish atmosphere in the market to a certain extent, and the intention of reluctance to sell and increase the price is still common in the market. At present, tungsten concentrate price increases to $18,461.5/ton with strong rised mentality in the market;

APT price edges up to $318.1/MTU with the support of strong raw material market; tungsten powder price hovers around $42.6/kg supported by high cost and active market.

Tungsten Carbide Industry Intelligence Jan.

In terms of price, the annual average price of 55% wolframite concentrate was US$16,211/bt, up 12% year-on-year (US$15,732/bt at the beginning of the year and US$16,602/bt at the end of the year).

The annual average price of APT was $25,172/ton, up 13% year-on-year ($24,505/ton at the beginning of the year and $25,375/ton at the end of the year).

Tungsten carbide annual average price of $37.85/kg, up 11.4% year-on-year ($37.12/kg at the beginning of the year, $37.3/kg at the end of the year)

The annual average price of tungsten powder was US$38.43/kg, up 11.5% year-on-year.

Production: APT annual output of 131,498 tons, up 1.01% year-on-year. The annual output of tungsten powder was 80,861 tons, a decrease of 3.31% year-on-year. The annual output of ferrotungsten was 9,173 tons, a decrease of 0.83% year-on-year.