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China - Tungsten - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

China - Tungsten - Market Analysis, Forecast, Size, Trends And Insights

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May 20, 2023

Tungsten Price in China Grows Slightly to $40.0 per kg

China Tungsten Export Price in March 2023

In March 2023, the tungsten price stood at $40,020 per ton (FOB, China), approximately mirroring the previous month. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in January 2023 an increase of 4.5% m-o-m. The export price peaked at $44,728 per ton in May 2022; however, from June 2022 to March 2023, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In March 2023, the highest price was recorded for prices to the UK ($40,900 per ton) and the United States ($40,600 per ton), while the average price for exports to Japan ($39,269 per ton) and Russia ($39,702 per ton) were amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-0.5%), while the prices for the other major destinations experienced a decline.

COUNTRYExport Price of Tungsten in China (USD per ton)
Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023
United KingdomN/A45,80045,40041,00043,668N/A40,950N/A38,80037,24640,86340,50040,900
United States44,30045,35945,84745,69646,20043,00039,78440,47939,51940,85040,36439,86940,600
Netherlands45,500N/A44,093N/AN/A42,80042,47538,00041,07736,500N/AN/A40,500
RussiaN/AN/AN/AN/AN/AN/A41,364N/AN/A36,22742,228N/A39,702
Japan41,93142,69844,29542,67341,15440,97841,12940,76038,83337,40338,60839,24139,269
Average42,83144,04244,72844,27542,40742,39441,57240,39739,34538,21239,93739,73640,020

China Tungsten Exports

In March 2023, approximately 134 tons of tungsten were exported from China; growing by 11% on the month before. In general, total exports indicated tangible growth from March 2022 to March 2023: its volume increased at an average monthly rate of +4.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2023 figures, exports increased by +27.1% against January 2023 indices. The growth pace was the most rapid in April 2022 with an increase of 66% against the previous month.

In value terms, tungsten exports expanded rapidly to $5.3M (IndexBox estimates) in March 2023. Overall, total exports indicated a temperate expansion from March 2022 to March 2023: its value increased at an average monthly rate of +3.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2023 figures, exports decreased by -4.4% against December 2022 indices. The pace of growth appeared the most rapid in April 2022 when exports increased by 71% month-to-month. As a result, the exports reached the peak of $6M. From May 2022 to March 2023, the growth of the exports remained at a somewhat lower figure.

China Tungsten Exports by Country

Japan (76 tons) was the main destination for tungsten exports from China, accounting for a 57% share of total exports. Moreover, tungsten exports to Japan exceeded the volume sent to the second major destination, the United States (15 tons), fivefold. The Netherlands (12 tons) ranked third in terms of total exports with a 9.2% share.

From March 2022 to March 2023, the average monthly growth rate of volume to Japan stood at +3.6%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the United States (+1.9% per month) and the Netherlands (+1.7% per month).

In value terms, Japan ($3M) emerged as the key foreign market for tungsten exports from China, comprising 56% of total exports. The second position in the ranking was held by the United States ($609K), with an 11% share of total exports. It was followed by the Netherlands, with a 9.3% share.

From March 2022 to March 2023, the average monthly growth rate of value to Japan stood at +3.0%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the United States (+1.1% per month) and the Netherlands (+0.7% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the tungsten market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Trade (exports and imports) in China
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. MARKET STRUCTURE
      3. TRADE BALANCE
      4. PER CAPITA CONSUMPTION
      5. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE

    8. 8. IMPORTS

      The Largest Import Supplying Countries

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. EXPORTS

      The Largest Destinations for Exports

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption In 2012-2023
      5. Imports, In Physical Terms, By Country, 2012–2023
      6. Imports, In Value Terms, By Country, 2012–2023
      7. Import Prices, By Country Of Origin, 2012–2023
      8. Exports, In Physical Terms, By Country, 2012–2023
      9. Exports, In Value Terms, By Country, 2012–2023
      10. Export Prices, By Country Of Destination, 2012–2023

    12. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
      4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
      5. Trade Balance, In Physical Terms, 2012-2023
      6. Trade Balance, In Value Terms, 2012-2023
      7. Per Capita Consumption, 2012-2023
      8. Market Volume Forecast to 2030
      9. Market Value Forecast to 2030
      10. Products: Market Size And Growth, By Type
      11. Products: Average Per Capita Consumption, By Type
      12. Products: Exports And Growth, By Type
      13. Products: Export Prices And Growth, By Type
      14. Production Volume And Growth
      15. Exports And Growth
      16. Export Prices And Growth
      17. Market Size And Growth
      18. Per Capita Consumption
      19. Imports And Growth
      20. Import Prices
      21. Production, In Physical Terms, 2012–2023
      22. Production, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, 2012–2023
      24. Imports, In Value Terms, 2012–2023
      25. Imports, In Physical Terms, By Country, 2023
      26. Imports, In Physical Terms, By Country, 2012–2023
      27. Imports, In Value Terms, By Country, 2012–2023
      28. Import Prices, By Country Of Origin, 2012–2023
      29. Exports, In Physical Terms, 2012–2023
      30. Exports, In Value Terms, 2012–2023
      31. Exports, In Physical Terms, By Country, 2023
      32. Exports, In Physical Terms, By Country, 2012–2023
      33. Exports, In Value Terms, By Country, 2012–2023
      34. Export Prices, By Country Of Destination, 2012–2023

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