China Tungsten Market Is Expected to Stabilize in Late October

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten bar prices in China remained weak adjustment in early week due to quiet market trading and cautious sentiment of market participants. 

Tungsten concentrate suppliers are reluctant to sell products at low prices with the impact of high costs, and smelting factories still face pressure of price inversion with stable operation. As for the demand side, it continues its weakness owing to worsening coronavirus in overseas markets. Therefore, the whole China tungsten market is expected to be in a stalemate in the short term. 

Wang Zhijun, Vice Minister of the Ministry of Industry and Information Technology, introduced the development achievements of the industrial communications industry during the 13th Five-Year Plan at a press conference of the State Council on October 23. China's total industrial added value increased from 24.54 trillion yuan to 31.71 trillion yuan from 2016 to 2019, an average annual growth rate of 5.9%, which was much higher than the world's industry average annual growth rate of 2.9% during the same period. In 2019, China’s added value of manufacturing industry accounted for 28.1% of the world's total, an increase of 1.8 percentage points from 2015, maintaining its position as the world's largest manufacturing country for 10 consecutive years.

Prices of tungsten products on October 27, 2020

Picture of tungsten powder 

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