China Tungsten Price Keeps Firm in Early September

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price keeps firm as raw material suppliers have strong rised mentality with the support of high production costs. But dragged by persistent weakness in the demand side both at home and abroad, the whole market transactions are hardly concluded. In the short term, the insiders will wait for new guidance from the market. 

In the cemented carbide market, the international economic situation led by the 2020 epidemic and geopolitical conflicts is relatively tough. The demand for the cemented carbide industry is facing challenges and risks. However, consumption in new infrastructure areas such as 5G and new energy vehicles is expected to bring new opportunities for the industry. In addition, with the strong support of raw materials of tungsten and cobalt, the alloy industry is showing a steady state. Insiders expect a positive outlook for the market.

For overseas markets, weak end-user demand continued to put downward pressure on the European ferro-tungsten market, which is now trading at a four-year low, according to sources. A listed tungsten companies assessed the ferro-tungsten basis 75% W, in-whs dup Rotterdam price at $23.85-25 per kg on Wednesday August 26, unchanged from the previous week when it had moved to that level from $24-26 per kg.

Prices of tungsten products on September 4, 2020

Picture of tungsten trioxide 

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