China Tungsten Prices Stabilized on Low Trading Activity in the Market

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued to maintain at a relatively low level in the week ended on Friday June 14, 2019. Although mainstream mining enterprises and smelting factories jointly together to cut production and stock prices of tungsten have soared, spot market transactions do not increase due to oversupply in the market and weak confidence of traders. 

With the continued decline of raw material prices, product prices tend to come close to the cost lines, which sharply decrease the profits of enterprises. As a result, most factories reduce production or stop production. Downstream market shows no signs of recovery; buyers seek for lower prices. In the short term, the current pattern of supply and demand would be hard to change. 

Confidence is the foundation of stable development for the market. The production rules of factories and the stock market have been adjusted recently, coupled with the environmental protection policy, market participants consider the tungsten metal as a hedging product. But if market confidence cannot be re-boosted, how can we rely on the demand side to stimulate the whole tungsten market.

Prices of tungsten products on Jun. 14, 2019

Picture of tungsten powder 

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