Tungsten Price in China Has Held Steady Due to a Stalemate in the Market

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price in China has held steady as a stalemate is setting in between buyers and sellers, and only changes in demand patterns are likely to break the deadlock.

Tungsten consumption is closely correlated to global GDP, especially in China, which consumes half of the metal produced. Since the outbreak, travel restrictions and curbs on the flow of goods have lowered expectations for global economic growth.

The impact was already visible at the start of 2020. In January, the Caixin China manufacturing purchasing managers' index fell to a five-month low of 51.1, down from 51.5 in December, with exports down for the first time since August. New orders and output growth slowed in the first half of 2020. 

Tungsten carbide, metal and chemicals are used in the mining, construction and automotive industries, as well as the defence sector. They also have industrial uses. The automotive industry now faces a shortfall in components, with many production facilities either shut or bracing for imminent closure.

Prices of tungsten products on July 3, 2020

Picture of tungsten powder 

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