In February 2020, steel prices traded between $500 and $700. The price of steel as of October 2021 is up over 200%, trading at $1,500, and many involved in the market don’t see the price reducing until at least 2022.Prices are expected to remain high in hear future.
In February 2020, copper prices traded between $7500 and $8700. The price of copper as of October 2021 is up over 130%, trading at $11,500, and even some floating with 500 or so, it remains in high pricing level.
Regarding to the materials of tungsten carbide production, cobalt increased 27,310 USD/MT or 85% since the beginning of 2021, WC powder increased 12,500 USD/MT or 35%, Nickel increased 4,200 USD/MT or 26%.
All the metal price increased in 2021, including the metal used for production of tungsten carbide. According to the pricing increasing of raw materials, the sales price of tungsten carbide increased several times during this year, with rate of 10-15% each time, even some special product’s price increased more than 30%.
The global metals industry outlook has changed from ‘positive’ to ‘stable’, coz despite most metals prices exceeding historical marks, that doesn’t mean they will improve from current levels. The high current price levels are expected to fade despite expected high overall demand for metals and mining throughout the period. We think most base metals prices showing signs of steadying in 2022 after reaching historical peaks this year.
ZHUZHOU HONGTONG TUNGSTEN CARBIDE CO.,LTD
As a professional tungsten carbide manufacturer from China, with more than 20 years’ experience, we have skilled engineers and technical know-how, to meet any of your carbide request.