China Tungsten Market Is Weak Due to Low Consumption on June 11

Details: Category: Tungsten's News; Published on Tuesday, 16 June 2020 14:06

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and tungsten powder prices in China tungsten market remain weak adjustment owing to a lack of spot demand in overseas markets, as downstream consumer sectors were temporarily shut down amid the Covid-19 pandemic.

Metals producers besides China have so far faced limited operational impacts from the Covid-19 outbreaks, geopolitical risk and the sluggish economy. But market participants have expressed concerns over operations in the coming months, as the number of coronavirus cases grows rapidly.

Tungsten consumption is closely correlated with global economic growth as tungsten carbide, alloy and chemicals are used in the construction, electronics, mining, automotive and petrochemical industries. For the market trend, only changes in demand patterns are likely to break the current market deadlock.

Prices of tungsten products on Jun. 11, 2020

ferro tungsten price image