Coronavirus Spread Clouds China Tungsten Market in Early April

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market remained weak in the first trading of April due to cautious sentiment of downstream users and low trading activity. Ammonium paratungstate (APT) exporters experienced a slow market, while unrecovered downstream manufacturing, such as the automobile industry, in China also dragged the domestic tungsten market price down.

Most sources reported a muted export market because of customers delaying signing their purchasing contracts and choosing to stand on market side lines. Japanese companies usually start their financial year from April and have their whole-year plan ready in early March, however, due to the coronavirus situation, Japanese companies have been struggling to clear a production plan and have chosen to conduct purchases on a needs basis, according to resources. 

Though China’s coronavirus situation has improved a lot, downstream manufacturing is yet to recover. Manufacturers hold a very cautious view on economic development after the virus and demand for upstream products, such as APT, is declining. 

Prices of tungsten products on Apr. 2, 2020

tungsten powder price image

Picture of tungsten powder 

tungsten powder image

Follow our WeChat to know the latest tungsten price, information and market analysis.