Analysis of latest tungsten market from Chinatungsten Online

The tungsten price continues its firm trend, with the ongoing upward adjustment in the prices of intermediate smelting products and downstream deep processing products driven by high raw material prices, although market transactions remain sluggish at elevated levels.

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain firm in early April 2024 for several reasons: firstly, due to a tight trend in the supply of raw materials; secondly, because large tungsten enterprises have firm long-term quotations; thirdly, due to the recent strong performance of the commodity market.

Analysis of latest tungsten market from Chinatungsten Online

The recent surge in the tungsten market is mainly due to the support of cost and supply, combined with the improvement of macroeconomic indicators. In addition, strong quotes from institutions and large tungsten enterprises, as well as passive follow-up of downstream tungsten products, have further strengthened the positive attitude of the tungsten raw material market.

Analysis of latest tungsten market from Chinatungsten Online

After the Qingming Festival, the tungsten market continued its stance of firmness amid stagnation. The firmness stemmed from tight supply and strong demand sentiment from the mining end, while the stagnation was attributed to the complex macro environment and purchasing hesitancy among buyers. The market appeared to be in a state of having prices but lacking transactions, with deals being implemented on an as-needed basis.