The Covid-19 Has Had a Great Impact on Tungsten Market in China

Analysis of latest tungsten market from Chinatungsten Online

The tungsten market in China remains stable with imbalanced relationship between supply and demand, and low transactions concluded. Tungsten concentrate sellers are reluctant to cut product profits, resulting in the difficulty in purchasing low-price resources. Offers of mainstream products stand at about $12,352.9/t. 

Smelting factories in the APT market mainly take a watchful stance and try to raise their offers, but no deals are concluded at $209.4/mtu. For the tungsten powder market, it follows the upstream market and will stabilize in the short term. 

The Covid-19 has had a great impact on China's economy, and the economic recovery after the epidemic has provided China with an opportunity to promote economic rebalance and achieve a more inclusive, sustainable and green growth, the World Bank pointed out. 

China’s economic growth rate will slow to 1.6% this year and rebound to 7.9% in 2021, according to forecasts from Baseline. The World Bank predicted that the global economy will shrink significantly this year affected by the epidemic, and more than 90% of emerging markets and developing economies will experience a decline in per capita income. Despite the unprecedented stimulus policies of major economies, the world faces clear downside risks.

Prices of tungsten products on July 31, 2020

Picture of tungsten powder 

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