China Tungsten Price Was in the Upward Trend in the Middle of October

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price was in the upward trend in the week ended on Friday, October 15, 2021 mainly due to the tightening availability of raw materials in the market. 

Smelting enterprises have become more difficult to produce and process affected by rising raw material prices and power curtailment. Some factories also reduced production appropriately to ease their pressure from environmental protection, capital and demand. The short-term market is expected to continue to be strong. 

For the outlook., the positive aspect is that with the epidemic impacting the global industrial chain supply chain, China’s manufacturing economy is still at a leading level, and the increase in domestic manufacturing demand is expected to boost the demand for tungsten products in machining and other fields. In addition, companies should also grasp the tungsten product application opportunities in the development of digital transformation.

The downside is that frequent severe weather events around the world and domestic energy consumption double control measures have had a certain impact on the production and consumption of alloys and downstream products. In addition, unfavorable factors such as the epidemic situation and geographic conflicts still exist, and market demand is expected to be poor.

Prices of tungsten products on October 18, 2021

China tungsten price image

Picture of tungsten rod 

tungsten rod image

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