China Tungsten Price Slightly Decreased in Early December 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price has slightly decreased in the week ended on Friday, December 6, 2024, mainly due to weak demand and a market atmosphere focused on profit-taking. However, the supply side continues to provide firm support for the market, with limited room for price reductions and fewer low-priced resources available. 

The price guidance released by institutions and tungsten companies last week also reflects a cautious attitude toward price adjustments. Purchasers are maintaining negotiations based on their needs, and year-end stockpiling demand has yet to see a significant release. The market trade atmosphere remains stagnant, with little volume being transacted.

On the macroeconomic front, the OECD's latest economic outlook report states that the global economy remains resilient, with inflation continuing to slow down and global trade beginning to recover. Global economic growth in 2024 is projected to be 3.2%, higher than the 2.9% forecast from the previous year. Growth is expected to stabilize at 3.3% in 2025 and 2026. However, significant downside risks to the global economic outlook remain, with escalating geopolitical tensions being an important factor. If conflicts in the Middle East intensify and threaten the region's oil supply, causing a sharp rise in international oil prices, global inflation would be pushed higher.

Prices of tungsten products on December 9, 2024

Picture of tungsten alloy shielding 

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