Coronavirus Spread Clouded China Tungsten Market in Early March

Details: Category: Tungsten's News; Published on Monday, 16 March 2020 17:16

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices remained weak adjustment in the week ended on Friday March 13, 2020 because the continued spread of the novel coronavirus worldwide has weighed on China tungsten market.

APT producers are under pressure from domestic and foreign markets so reduced purchases of tungsten concentrates, while mines gradually resume production. With increased supply and reduced demand, the tungsten concentrates price is easing off.

The future trend in the tungsten market depends on how long the global coronavirus situation lasts and whether China’s new infrastructure projects can boost economic growth.

Market sources are deeply concerned about the rapid spread of coronavirus, worrying that any isolation measures - such as those China took in late January - will disrupt local companies’ production and affect their need to import material from China.

Prices of tungsten products on March 16, 2020

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