The monitoring results of the monthly prosperity index of China’s tungsten and molybdenum industry show that in January 2022, the prosperity index of China’s tungsten and molybdenum industry was 32.1, down 3.2 points from December 2021, in the “normal” range; The leading composite index was 43.6, down 2.5 points from December 2021.

Industry operation characteristics in January 2022

1. Tungsten output increased slightly month on month, while molybdenum output decreased slightly

According to relevant statistics, in January, the output of tungsten concentrate (65% tungsten oxide) in China was about 5600 tons, an increase of 0.9% month on month; The output of molybdenum concentrate is about 8840 tons of molybdenum (metal, the same below), with a month on month decrease of 2.0%.

2. The export of tungsten products decreased month on month, and the export of molybdenum increased significantly

According to customs statistics, in December, China exported 2154 tons of tungsten products (equivalent to tungsten, the same below), down 9.8% month on month. Among them, the export of tungsten smelting products was 1094 tons, down 5.3% month on month; The export of tungsten powder products was 843 tons, down 12.6% month on month; The export of tungsten metal products was 217 tons, down 19.3% month on month. Over the same period, China exported 4116 tons of molybdenum (metal, the same below), an increase of 44.1% month on month. Among them, the export of molybdenum charge products was 3407 tons of molybdenum, with a month on month increase of 58.3%; The export of molybdenum chemical products was 240 tons of molybdenum, an increase of 27.1% month on month; The export of molybdenum metal products was 469 tons, down 8.9% month on month.

3. Tungsten consumption decreased slightly month on month and molybdenum increased significantly

In January, the pace of manufacturing expansion slowed down, and mining and cutting industries slowed down. In January, the domestic tungsten consumption was about 3720 tons, with a slight decrease month on month. In the same period, the demand from the downstream steel production field was stable. In January, the procurement of ferromolybdenum by domestic mainstream steel mills reached 11300 tons, an increase of 9.7% month on month. It is estimated that the domestic molybdenum consumption in January was about 10715 tons, with a month on month increase of 7.5%.

4. The price of tungsten and molybdenum products kept rising month on month

According to the statistics of tungsten concentrate, the average price of tungsten concentrate increased by 1.65 million tons / month on month, which was 1.4% higher than that of the domestic market; The average price of ammonium paratungstate (APT) was 174000 yuan / ton, up 4.8% month on month; The average price of molybdenum concentrate (45% Mo) was 2366 yuan / ton, up 7.3% month on month; The average price of ferromolybdenum (60% Mo) was 158000 yuan / ton, up 6.4% month on month.

To sum up, the prosperity index of tungsten and molybdenum industry in January was in the “normal” range. According to the current situation, the demand for tungsten and molybdenum products in the downstream field will continue to grow, and the price of tungsten and molybdenum products will continue to rise. It is preliminarily judged that the index will continue to operate in the “normal” range in the short term.