Salts; Tungstates (Wolframates) Price in India - 2023

Salts; Tungstates (Wolframates) Price in India (FOB) - 2023

The average salts; tungstates (wolframates) export price stood at $23,818 per ton in September 2023, remaining constant against the previous month. Overall, the export price showed a modest expansion. The growth pace was the most rapid in March 2023 when the average export price increased by 14% month-to-month. Over the period under review, the average export prices hit record highs in September 2023.

Average prices varied somewhat for the major export markets. In September 2023, the country with the highest price was the Netherlands ($32,164 per ton), while the average price for exports to the United States ($22,814 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Salts; Tungstates (Wolframates) Price in India (CIF) - 2022

In 2022, the average salts; tungstates (wolframates) import price amounted to $39,289 per ton, picking up by 14% against the previous year. Overall, the import price posted measured growth. The pace of growth was the most pronounced in 2017 an increase of 54% against the previous year. Over the period under review, average import prices attained the peak figure at $44,948 per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($41,041 per ton), while the price for the United States totaled $11,162 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced a decline.

Salts; Tungstates (Wolframates) Exports in India

In 2022, exports of salts; tungstates (wolframates) from India skyrocketed to 359 tons, growing by 24% on 2021 figures. Over the period under review, exports showed modest growth. The pace of growth was the most pronounced in 2021 with an increase of 129% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, salts; tungstates (wolframates) exports surged to $7.4M in 2022. Overall, exports posted buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 164% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Export of Salts; Tungstates (Wolframates) in India (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1.0	0.6	3.5	4.5	65.1%
Vietnam	3.9	0.8	0.6	2.0	-20.0%
China	0.3	0.3	0.6	0.7	32.6%
Others	0.2	0.1	0.3	0.1	-20.6%
Total	5.4	1.9	4.9	7.4	11.1%

Top Export Markets for Salts; Tungstates (Wolframates) from India in 2022:

United States (211.6 tons)
Vietnam (111.1 tons)
China (33.0 tons)

Salts; Tungstates (Wolframates) Imports in India

In 2022, approx. 3 tons of salts; tungstates (wolframates) were imported into India; dropping by -82% compared with the year before. Overall, imports faced a precipitous decline. The pace of growth was the most pronounced in 2021 with an increase of 67%.

In value terms, salts; tungstates (wolframates) imports reduced markedly to $118K in 2022. In general, imports recorded a dramatic setback. The most prominent rate of growth was recorded in 2021 when imports increased by 151%.

Import of Salts; Tungstates (Wolframates) in India (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	855	98.8	540	112	-49.2%
United States	4.6	3.1	13.7	2.8	-15.3%
Vietnam	N/A	97.3	N/A	N/A	0%
Others	10.8	29.7	21.5	2.9	-35.5%
Total	870	229	575	118	-48.6%