Coronavirus Outbreak Has Inflated Spot Prices for Tungsten

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and cesium tungsten bronze prices in China continue to maintain stability as the logistic constrains and cautious sentiment of traders lower trading activity. Raw material sellers are reluctant to sell with watchful stance while the demand side still remain low interest in stocking. 

The coronavirus outbreak has inflated spot prices for tungsten as producers in China delay post-holiday restarts of their plants because of logistical bottlenecks. And the same weakening economic growth prospects are expected to hit the demand outlook for tungsten, which correlates closely with GDP.

The transportation of workers, and raw and auxiliary materials — such as acid, coal, gas and alkali — to plants in China, and exports of tungsten APT and other related products, have been restricted by logistical bottlenecks. Some of China's customs and freight forwarders, including at the ports of Xiamen, Guangzhou and Shanghai, have returned to work, but goods cannot reach them for export.

Prices of tungsten products on Mar. 5, 2020

Picture of cesium tungsten bronze

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