China Tungsten Market Shows Signs of Stability in the Second half of March 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market has recently shown signs of stability, with a bias towards stability. On one hand, this is due to the stalemate in the supply-demand dynamics, while on the other hand, it is attributed to the divergence in external factors. 

Against this backdrop, the risk of speculative fluctuations in tungsten prices is relatively low. In the short term, the market is mainly consolidating sideways according to demand, with occasional minor upward movements but lacking corresponding transactions.

On the macroeconomic front, Zheng Zhajie, Director of the National Development and Reform Commission, stated that efforts will be made to promote equipment renewal in seven major sectors including industry, agriculture, construction, transportation, education, culture, tourism, and healthcare, with the potential to create a market of over 5 trillion yuan annually. Initiatives for the replacement of durable consumer goods such as automobiles, household appliances, and furniture are expected to unleash trillions of yuan in market potential. It is projected that at least 2 trillion yuan in additional investment will be needed annually by 2030. The drive for a new round of large-scale equipment renewal and the replacement of consumer goods are expected to effectively stimulate the consumption potential of related tungsten products.

Prices of tungsten products on March 26, 2024

Picture of tungsten concentrate 

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