China Tungsten Price Showed Good Momentum in December on Tight Supply

Details: Category: Tungsten's News; Published on Monday, 21 December 2020 18:22

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price showed good momentum in the week ended on Friday December 18, 2020 as insiders have good expect for the market outlook despite of limited transactions.

First, domestic economy is steadily recovering under the effective control for Covid-19; second, the back-end alloy companies plan to increase product prices to further boost the confidence of the raw material side; third, smelting factories gradually start to stop production to undergo repair, and the production output will increase. The relationship between supply and demand may be improved.

However, market participants still focus on the situation of coronavirus, which greatly affects the demand of the market. In addition, the rise of trade protectionism in various countries also worry insiders. In the short term, the sustainability of market trend and the demand need to be followed up.

Prices of tungsten products on December 21, 2020

China tungsten price image