China Tungsten Powder Price Remains Strong in December due to Tight Supply

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and ammonium metatungstate (APT) prices remain strong in the wake of tightening availability of raw materials that drives prices of end products. 

Although the consumption in the international market is hard to increase affected by the continued spread of Covid-19, with the recovery of domestic economy and the expansion of terminal consumption such as new infrastructure, the industry has certain expectations for the fundamentals of the supply and demand of the tungsten market in the future. Now the capital is the new focus of companies at the end of the year. Most insiders would take a watchful stance, waiting for new average tungsten forecast prices for the market.

Standard Chartered Bank predicts that the global economy will grow by 4.8% in 2021, while China's GDP growth rate will grow to 8.0%. It is predicted that China may reduce the budget deficit, slow down the expansion of credit, or keep the policy interest rate unchanged. The policy withdrawal may affect economic activities in the second half of next year. Moreover, the budget deficit rate may be compressed to less than 3%, and the total social financing growth rate may drop to 10-11%, the average CPI inflation may be 0.9%.

Prices of tungsten products on December 18, 2020

Picture of tungsten trioxide 

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