China Tungsten Price Was in the Upward Trend on September 04, 2020

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the week ended on Friday September 04, 2020 with the support of high production costs and the recovery of domestic economy and downstream infrastructure, automobile, 3C under the effective control of the coronavirus. 

At present, it is difficult to find low-priced resources in the tungsten market, but high-priced transactions also are hard to be concluded. Slow demand is still the biggest disadvantage for the tungsten industry. In the first half of this year, the impact of the epidemic on the tungsten industry continues to decrease, especially to the export market. Although major institutions have strong expectations for China's economy, the exports of some raw materials led by AMT and APT began to rebound in July, market participants still expressed concern about the international economic situation.

In addition to the spread of overseas epidemics, uncertain factors such as geopolitical conflicts and U.S. elections will have an impact on the market. At present, downstream end-users of the tungsten industry are still cautious to purchase products. In the short term, insiders will focus on the new round of guide prices from Ganzhou Tungsten Association and major tungsten enterprises.

The imports and exports of China's foreign trade in July were 2.93 trillion yuan, a year-on-year increase of 6.5%. Among them, exports were 1.69 trillion yuan, an increase of 10.4%; imports were 1.24 trillion yuan, an increase of 1.6%; the trade surplus was 442.23 billion yuan, an increase of 45.9%, according to data from the General Administration of Customs. 

Prices of tungsten products on September 7, 2020

Picture of tungsten trioxide 

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