China Tungsten Prices Continued to Decline in Late June
- Details
- Category: Tungsten's News
- Published on Monday, 24 June 2019 19:14
Analysis of latest tungsten market from Chinatungsten Online
China tungsten prices continued to decline in the week ended on Friday June 21, 2019 as insiders, affected by the mood of panic, were hard to judge when the market will to bottom out. The whole spot market remained low trading activity and transaction prices showed signs of decline.
In fact, the persistent weakness in the demand side is the main reason for the softened tungsten market. Manufacturing data, production and sales of downstream auto industries, and demand for alloys have declined since this year. Smelting factories remained low operating rate, consuming fewer raw materials than before. In addition, the impact of macroeconomic adjustment on the industrial capital chain increased market psychological pressure. So the whole market participants tended to be negative.
With the influence of joint production reduction of raw material producers and smelting enterprises, and the environmental protection of policies, the relationship between supply and demand in the market is slowly being adjusted. The market trend remains unclear. At present, the key for the stabilization of tungsten industry lies in the self-discipline of the enterprise and the establishment of the confidence of participants.
Prices of tungsten products on Jun. 24, 2019
Picture of tungsten powder
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