Tungsten Concentrate Market Faced Pressure in China

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price in China maintained stability in the week ended on Saturday May 9, 2020 when new average tungsten forecast prices from Ganzhou Tungsten and offers from listed tungsten companies were adjusted slightly. The whole market stabilizes and is caught in heavy wait-and-see atmosphere. 

The tungsten concentrate market faced pressure from both capital and demand sides. Miners have strong rised mentality, but limited inquiries from speculators did not stimulate the demand from downstream. In the APT market, the cost side supported the confidence of manufacturers, but downstream did not accept high offers of raw materials, so market trading was limited. The tungsten powder market received fewer orders from downstream alloy and product factories. Although the demand from domestic automobile industry and infrastructure projects is recovering, the continued spread of COVID-19 increased the worry of traders. In the short term, market participants will wait for the next move in the market.

Prices of tungsten products on May 11, 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.