China Ferro Tungsten Price Continues to Tumble on Weak Demand

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and ferro tungsten prices in China continue to be weak without effective support from the market. Suppliers make their quotations mainly based on the new guide price from tungsten associations, but purchasers remain rigid demand.

At present, the whole tungsten market lacks liquidity. Most insiders tend to hold conservative opinions on market outlook, taking a watchful stance for the spread of coronavirus in foreign countries, economic and trade situations and downstream manufacturing consumption.

The General Administration of Customs issued China's foreign trade export-import situation in the first three quarters of the year. According to statistics of customs, China's total value of import and export in the first three quarters was 23.12 trillion yuan, an increase of 0.7% year-on-year. The total value achieved positive year-on-year growth for the first time during the year. Among them, China's total import and export value, total export value, and total import value all hit a quarterly record high in the third quarter. 

About exports, in terms of U.S. dollars, the export value increased by 9.9% year-on-year in September 2020, a positive growth for six consecutive months. The renminbi-denominated increase was 8.7% year-on-year, and the difference was mainly due to a certain degree of appreciation in the renminbi exchange rate over the same period last year.

Prices of tungsten products on October 16, 2020

Picture of yellow tungsten oxide 

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