Low Global Demand for Tungsten Is Likely to Persist in Late 2019

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and ammonium metatungstate prices in the Chinese market are unchanged from the previous trading day affected by cautious sentiment in the market and persistent weakness in the demand side.

Globally, low global demand for tungsten is likely to persist, with consumption falling by 19-20pc on the year as a result of consumer destocking, a global economic slowdown and geopolitical turmoil.

But tungsten demand could experience a recovery in the second half of 2020, as consumers replenish depleted inventories amid expectation of modest industry growth, delegates heard at the International Tungsten Industry Association meeting in Stresa, Italy.

Experts expect overall consumption to decline by 19pc to 15,400t of tungsten this year, down from last year's consumption level of 19,000t. But the assumption is that inventory levels could be low by the end of this year, raising demand in 2020. 

Prices of tungsten products on Oct. 31, 2019

Picture of tungsten trioxide 

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