Tungsten Prices, Chart, News and Historical Data

Tungsten Price in China

• China: 309 USD/MT

In the fourth quarter of 2023, the price of tungsten in China reached 309 USD/MT by December.  

The latest report by IMARC Group, titled "Tungsten Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of tungsten prices. This report delves into globally, presenting a detailed analysis, along with informative price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.

Report Offering:

• Monthly Updates: Annual Subscription
• Quarterly Updates: Annual Subscription
• Biannually Updates: Annual Subscription

The study delves into the factors affecting tungsten price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

Request For a Sample Copy of the Report: https://www.imarcgroup.com/tungsten-pricing-report/requestsample

Tungsten Price Trend- Last Quarter

Tungsten, also known by its chemical symbol W and atomic number 74, is a dense, grayish-white metal renowned for its remarkable hardness and high melting point, which is the highest of all metals at 3,422°C (6,192°F). It is a transition metal with excellent thermal and electrical conductivity, making it a valuable material in various industrial applications. It is found in nature in the form of minerals, such as wolframite and scheelite, and is extracted through mining and refining processes. Due to its strength and durability, tungsten is frequently used in alloys to enhance the properties of other metals, particularly in applications requiring materials that can withstand high temperatures and stress.

Additionally, the high density of tungsten makes it ideal for use in heavy-duty applications, such as in weights, counterbalances, and radiation shielding. Consequently, the unique properties of tungsten make it indispensable across numerous industries, such as manufacturing and aerospace.

Tungsten Industry Analysis

The global tungsten market is primarily driven by the increasing demand for the metal in the manufacturing of cutting tools and abrasives. Tungsten carbide, a hard compound formed from tungsten, is widely used in these tools due to its exceptional hardness and resistance to wear and high temperatures, making it indispensable in the mining, oil and gas, construction, and metalworking industries.

Moreover, the expanding aerospace and defense sectors are contributing significantly to market growth as tungsten is used in the production of heavy-duty components and munitions on account of its high density and strength. The electronics industry also contributes to the demand for tungsten, particularly in applications that require materials with high melting points and excellent conductivity, such as filaments in light bulbs and electrodes in welding. Additionally, the increasing focus on renewable energy sources, such as wind and solar power, is a significant growth-inducing factor, as tungsten is used in various components of these energy systems, including wear-resistant coatings and heavy-duty parts.

Furthermore, technological advancements and the development of new tungsten-based materials are creating further opportunities, particularly in the automotive and medical sectors, where the need for durable and high-performance materials continues to rise. As global industrialization and technological development continue to advance, the tungsten market is predicted to experience sustained growth, driven by its vital role in numerous high-demand applications across diverse industries.

Regional Price Analysis:

• Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
• Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece
• North America: United States and Canada
• Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
• Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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