China: Tungsten Market 2024

Tungsten Market Size in China

The Chinese tungsten market amounted to $X in 2022, stabilizing at the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Tungsten Production in China

In value terms, tungsten production fell to $X in 2022 estimated in export price. In general, production, however, saw a abrupt descent. The growth pace was the most rapid in 2016 when the production volume increased by 506%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Tungsten Exports

Exports from China

In 2022, tungsten exports from China surged to X tons, picking up by 19% on the year before. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 1,297% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, tungsten exports surged to $X in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 419% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Japan (X tons) was the main destination for tungsten exports from China, accounting for a 55% share of total exports. Moreover, tungsten exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled +60.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+41.7% per year) and the Netherlands (+80.9% per year).

In value terms, Japan ($X) remains the key foreign market for tungsten exports from China, comprising 54% of total exports. The second position in the ranking was taken by the United States ($X), with a 24% share of total exports. It was followed by the Netherlands, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +77.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+58.1% per year) and the Netherlands (+48.3% per year).

Export Prices by Country

The average tungsten export price stood at $X per ton in 2022, surging by 11% against the previous year. Overall, the export price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2016 an increase of 89%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Russia ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tungsten Imports

Imports into China

In 2022, after three years of decline, there was significant growth in purchases abroad of tungsten, when their volume increased by 23% to X tons. Overall, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 1,882% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, tungsten imports skyrocketed to $X in 2022. In general, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2015 when imports increased by 847%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of tungsten to China, accounting for a 78% share of total imports. Moreover, tungsten imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X kg), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+29.6% per year) and the United States (-34.3% per year).

In value terms, Japan ($X) constituted the largest supplier of tungsten to China, comprising 48% of total imports. The second position in the ranking was held by Germany ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan stood at +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+45.4% per year) and the United States (-40.5% per year).

Import Prices by Country

In 2022, the average tungsten import price amounted to $X per ton, rising by 50% against the previous year. Overall, the import price saw a buoyant increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 51% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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