Market Dynamics
On May 8, 2024, the tungsten contact market showed that tungsten prices remained strong, market news stimulus increased, and merchants maintained a supportive attitude during the bullish cycle. Zhangyuan Tungsten Industry also decided to implement the new prices for some cemented carbide and spray powder products from April 15 due to the continued rise in cemented carbide raw material prices.
Supply and demand
According to the in-depth report of Xiamen Tungsten Industry, the supply and demand balance of tungsten concentrate turned into a shortage in 2021, and the gap is expected to expand to -4780 tons in 2022, which has led to a gradual increase in the prices of tungsten concentrate and APT. This change in supply and demand is one of the important factors for the rise in tungsten prices.
Many reports pointed out that the rise in tungsten prices is being transmitted from the mine end to the middle and downstream of the industrial chain, and the price has reached a ten-year high. This resonance of price increases in the entire industrial chain shows that products from upstream tungsten concentrate to downstream cemented carbide and tungsten carbide powder are all affected by prices.
Although the current tungsten price is high, there are also reports that there are some concerns. For example, although the rise in tungsten prices has led to an increase in profits for the entire industrial chain, the lack of purchasing power of downstream demand and the current situation of production plants maintaining production with inventory may affect the long-term stability of the market.
Technology and Application
In the application field of Tungsten Contact, especially in the mechanical manufacturing industry, tungsten products, especially cemented carbide, are developing towards high-grade and multi-variety. At the same time, tungsten metal powder and deep-processing products, which are the main raw materials of cemented carbide, are also constantly improving, and higher standards and requirements are put forward.
