Tungsten Price In China
- China: 309 USD/MT
The price of Tungsten in Korea for Q1 2024 reached 2,530 USD/Ton in March.
The latest report by IMARC Group, titled "Tungsten Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of Tungsten prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Tungsten Prices December 2023:
- China: 309 USD/MT
Report Offering:
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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.
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Tungsten Price Trend- Q4 2023
Tungsten, also known as wolfram, is a rare metal with the highest melting point of all elements, surpassing even that of steel. Its atomic number is 74, placing it in the transition metal group of the periodic table. Tungsten is characterized by its exceptional hardness, durability, and resistance to corrosion, making it invaluable in various industrial applications. Its remarkable properties render it ideal for use in manufacturing tools and machinery that require high-temperature resistance and strength, such as cutting and drilling equipment, electrical contacts, and heating elements. Additionally, tungsten finds extensive use in the production of alloys, particularly those used in aerospace engineering and the automotive industry. Due to its density, tungsten is also employed in military applications, including armor-piercing projectiles and kinetic energy penetrators.
Tungsten Market Analysis
The burgeoning demand for tungsten arises from its pivotal role in the manufacturing sector, particularly in the production of cutting tools, machinery, and components requiring high-temperature resistance and durability. The rapid expansion of industrial activities, especially in emerging economies, fuels this demand. Additionally, the automotive industry heavily relies on tungsten-based alloys for manufacturing parts, contributing to market growth. Other than this, the continuous advancements in the aerospace sector and the increasing demand for lightweight yet robust materials bolster the market prospects of tungsten, given its suitability for aerospace applications. Besides this, the expansion of the electronics industry is driven by technological innovations and the proliferation of consumer electronics, stimulates demand for tungsten in semiconductor fabrication and electrical components. In line with this, geopolitical factors, such as trade policies and resource availability, also influence the market dynamics, as tungsten is primarily sourced from a limited number of countries. Environmental regulations and sustainability initiatives are increasingly shaping the market, prompting the exploration of alternative sources and recycling methods. Furthermore, the energy industry, particularly the renewable energy sector, relies on tungsten for various applications, including the production of turbines and components for solar panels and wind turbines. As countries worldwide transition toward cleaner and more sustainable energy sources, the demand for tungsten in these applications is expected to increase significantly.
Browse Full Report: https://www.imarcgroup.com/tungsten-pricing-report
Key Points Covered in the Tungsten Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Tungsten Forecast
- Tungsten Price Trend
- Tungsten Demand
- Tungsten Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Tungsten Price Analysis
- Tungsten Industry Drivers, Restraints, and Opportunities
- Tungsten News and Recent developments
- Global Event Analysis
- List of Key Players
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.
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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