Coronavirus Is Impacting Ammonium Metatungstate Prices in China

Analysis of latest tungsten market from Chinatungsten Online

The latest of ferro tungsten, tungsten powder and ammonium metatungstate (APT) prices in China are in the downward trend on cautious sentiment of market participants due to the continued spread around the globe. 

The global slowdown in manufacturing output, which started in the second half of 2019, and the more recent rapid spread of the coronavirus (Covid-19) around the world, has negatively impacted many key industries. The coronavirus in particular has forced many manufacturing industries in the leading economic countries to cut output leading to reduced demand for raw materials such as metals. This in turn has led to a downward pressure on metal prices since the beginning of 2020.

China aproduces around half of the world’s production of all base metals and 56% of steel (in 2019). It is reported that with the coronavirus effectively under control in China, insiders are optimistic that the Chinese economy will start to recover in the second quarter of 2020 and in the second half of the year. However, how the rest of the global economy will cope with the ongoing virus situation is still very unclear.

Prices of tungsten products on March 27, 2020

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Picture of tungsten trioxide 

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