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Analysis of latest tungsten market from Chinatungsten Online

The tungsten price in China continued to be in the downward trend in the week ended on Friday April 10, 2020 due to sluggish demand both at home and abroad, capital shortage of enterprises, cautious sentiment solid tungsten carbide rods of insiders and low trading activity. 

In the tungsten concentrate market, tungsten concentrate was quoted at $11,323.5/t by listed tungsten companies, showing a stabilizing signal, with no deals concluded at the spot market. The actual transaction prices stood around $11,029.4/t. Miners especially small and medium-sized enterprises faced cost and capital pressures. In the APT market, smelting factories had risks of price inversion, with low enthusiasm for purchases and sales. Most deals were concluded below $199.4/mtu. For the tungsten power market, the orders of downstream cemented carbide and products companies were not good, and the market outlook is still pessimistic. Traders took a watchful stance, waiting for the next move in the market. 

The coronavirus is continuing to spread around the world, which has a great impact on import and tungsten carbide bars export of the goods. However, smelting factories have cut output to ease pressure of oversupply and high production costs, incentive policies to stimulate the downstream manufacturing industries such as automobiles and infrastructure have also been introduced. The market may bottom out in the near future. In the short term, the market is expected to be weak.

Prices of tungsten products on Apr. 13, 2020

Picture of tungsten powder 

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