Ferro Tungsten Prices in China Are Weak on Sluggish Market Demand

Details: Category: Tungsten's News; Published on Wednesday, 18 March 2020 10:31

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and ferro tungsten prices in China are weak owing to persistent weakness in the demand side and the instability in the international tungsten market affected by continued spread of coronavirus worldwide as well as sluggish market demand.

It should be noted that insiders have better expectation for the market in the second quarter than before. Many international institutions and experts believe the trend of China's economy towards growth and expansion has not changed. Take auto industry for example, Xu Haidong, deputy chief engineer of the China Automobile Association, thought the data in February has bottomed out, and the data in March must pick up. Under the current limited conditions, the automotive industry is expected to return to normal in the third quarter.

In addition, China's The Union Property Group believed the commodity market still faces downward pressure on supply and inventory. However, with the gradual production resumption of industrial enterprises, plus with favorable policies, market confidence is expected to be boosted and the pressure may be eased in the second quarter.

On the whole, the adjustment of supply and demand in the tungsten market still needs a certain period, and it takes time to increase the industry's confidence. Fortunately, with the effective prevention and control for the epidemic and the support of national incentives, the tungsten market transactions are expected to increase.

Prices of tungsten products on March 17, 2020

ferro tungsten prices image