Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China - 2024
Contents:
- Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China (FOB) - 2024
- Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China (CIF) - 2022
- Exports of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China
- Imports of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China
Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China (FOB) - 2024
In May 2024, the average export price for tungsten (wolfram); articles thereof, including waste and scrap amounted to $50,595 per ton, waning by -2.5% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in January 2024 an increase of 16% m-o-m. The export price peaked at $61,890 per ton in February 2024; however, from March 2024 to May 2024, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Germany ($76,841 per ton), while the average price for exports to Vietnam ($34,289 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China (CIF) - 2022
The average import price for tungsten (wolfram); articles thereof, including waste and scrap stood at $366,328 per ton in 2022, growing by 21% against the previous year. Overall, the import price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 38% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($996,705 per ton), while the price for Canada ($117,259 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China
In 2022, approx. 5.8K tons of tungsten (wolfram); articles thereof, including waste and scrap were exported from China; rising by 13% against 2021. The total export volume increased at an average annual rate of +3.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 17%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the near future.
In value terms, exports of tungsten (wolfram); articles thereof, including waste and scrap surged to $297M in 2022. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +8.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 35% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.
| Export of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 58.9 | 40.3 | 76.0 | 86.8 | 13.8% |
| United States | 68.3 | 40.3 | 33.3 | 61.2 | -3.6% |
| South Korea | 23.3 | 28.2 | 44.2 | 44.2 | 23.8% |
| Germany | 7.0 | 7.4 | 8.9 | 10.6 | 14.8% |
| Taiwan (Chinese) | 6.0 | 10.4 | 8.8 | 9.5 | 16.6% |
| Netherlands | 6.6 | 3.7 | 6.5 | 9.0 | 10.9% |
| United Kingdom | 7.2 | 5.0 | 5.9 | 8.8 | 6.9% |
| Israel | 1.4 | 2.3 | 2.9 | 8.7 | 83.9% |
| Canada | 2.4 | 2.0 | 6.4 | 5.7 | 33.4% |
| India | 5.2 | 4.4 | 5.5 | 5.4 | 1.3% |
| Hong Kong SAR | 15.1 | 1.0 | 2.7 | 4.3 | -34.2% |
| Others | 34.4 | 31.9 | 36.8 | 42.4 | 7.2% |
| Total | 236 | 177 | 238 | 297 | 8.0% |
Top Export Markets for Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap from China in 2022:
- Japan (1861.6 tons)
- United States (1275.2 tons)
- South Korea (1025.2 tons)
- Netherlands (195.6 tons)
- United Kingdom (177.6 tons)
- Germany (155.6 tons)
- Israel (154.8 tons)
- Taiwan (Chinese) (121.2 tons)
- Canada (110.7 tons)
- India (88.8 tons)
- Hong Kong SAR (52.4 tons)
Imports of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China
For the third consecutive year, China recorded decline in supplies from abroad of tungsten (wolfram); articles thereof, including waste and scrap, which decreased by -17.2% to 118 tons in 2022. In general, imports continue to indicate a deep slump. The smallest decline of -15.2% was in 2020.
In value terms, imports of tungsten (wolfram); articles thereof, including waste and scrap stood at $43M in 2022. The total import value increased at an average annual rate of +3.6% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 5.8% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 15.6 | 15.3 | 17.1 | 20.0 | 8.6% |
| South Korea | 3.5 | 4.8 | 6.7 | 5.5 | 16.3% |
| United States | 5.3 | 4.5 | 6.5 | 4.9 | -2.6% |
| Taiwan (Chinese) | 3.1 | 5.9 | 3.2 | 4.3 | 11.5% |
| Germany | 8.0 | 4.4 | 2.8 | 2.2 | -35.0% |
| Canada | 0.1 | 0.1 | 0.2 | 0.7 | 91.3% |
| Austria | 0.5 | 0.5 | 0.4 | 0.6 | 6.3% |
| Others | 2.8 | 5.3 | 6.2 | 5.1 | 22.1% |
| Total | 39.0 | 40.8 | 43.2 | 43.4 | 3.6% |
Top Suppliers of Tungsten (Wolfram); Articles Thereof, Including Waste and Scrap to China in 2022:
- Japan (20.0 tons)
- United States (16.4 tons)
- Taiwan (Chinese) (15.2 tons)
- South Korea (13.9 tons)
- Germany (8.2 tons)
- Canada (6.4 tons)
- Austria (3.0 tons)
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