Chinese Tungsten Prices May Bottom Out in July?

Analysis of latest tungsten market from Chinatungsten Online

The decline in Chinese tungsten prices has slowed down, but there is still controversy about when the price to enter the stage of rebound. Buyers and sellers have different views towards the outlook, and the whole tungsten market is weak. 

Raw material sellers now are reluctant to sell products at low prices boosted by high production costs, low operating rate of factories, low inventories and environmental protection inspection. Most companies show signs of rebound and are resistant to lower product prices required by downstream. The actual transaction prices are affected by the demand side. 

Buyers purchase products according to the need of actual requirements, and are still spreading the view that the demand is weak to the upstream market. As a result, upstream traders follow the panic blindly, which makes transaction prices decline. At present, purchasers have negative expectations for terminal demand, capital turnover and pressure of inventories. In the traditional off season, buyers are not interested in replenishing and trading volumes still are low.

Prices of tungsten products on Jul. 11, 2019

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