Tungsten Price

In 2022, the average tungsten metal price was approximately $270 per ton, which increased by 20% year-on-year. Tungsten is a rare metal with a high melting point and is widely used in the production of products such as calcium tungstate, sodium tungstate, and tungstic acid. In addition, tungsten and its alloys, such as tungsten carbon compounds (also known as tungsten cobalt alloys), are widely used in many high-temperature applications, such as arc welding electrodes and heating elements.

The value of the global tungsten market exceeded 5 billion US dollars in 2022. China is the world's largest producer of tungsten, with a tungsten production of approximately 84000 tons in 2022. In addition, tungsten material price is also influenced by factors such as supply and demand, production costs, and international market prices.

The main factors affecting tungsten price

The price fluctuation of tungsten is influenced by various factors, and the following are some of the main influencing factors:

Supply and demand relationship: The market supply and demand relationship of tungsten is the fundamental factor affecting its price fluctuations. If the supply of tungsten increases while demand decreases, pure tungsten price may decrease. On the contrary, if demand exceeds supply, the price of tungsten may rise. Macroeconomic environment: The demand and supply of tungsten will also be affected by the global and domestic macroeconomic environment. For example, if the global economic situation is poor, the demand for tungsten may be affected, thereby affecting its price. Policy factors: Policy factors may also have an impact on the price of tungsten. For example, if the country introduces relevant tungsten industry policies, it may have an impact on the price of tungsten. Production cost: The tungsten cost is also an important factor affecting its price. If the production cost of tungsten increases, the price of tungsten may rise. Market expectation: The market's demand expectation for tungsten will also affect its price. For example, if the market's demand for tungsten increases, tungsten price per kg may rise. Other factors: In addition to the above points, the price of tungsten may also be influenced by various other factors, such as market confidence, investor sentiment, international trade relations, etc.

It should be noted that the degree of influence and specific manifestations of the above factors may vary due to changes in the market environment and economic conditions. Therefore, predicting and analyzing the price of tungsten requires a comprehensive consideration of multiple factors.