China’s Domestic Tungsten Price Remained Weak Affected by Omicron Variant

Details: Category: Tungsten's News; Published on Monday, 06 December 2021 19:10

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remained weak adjustment in the week ended on Friday, December 03, 2021 affected by the imbalanced relationship between supply and demand.

On the supply side, the production of mining and smelting enterprises at the end of the year and in the early stage of the Winter Olympics is still restrained by environmental protection; on the demand side, the actual demand of downstream terminals is weak, and the stocking cycle may release some positive benefits; on the macro side, Omicron variant increases the market’s expectations for the continuity of inflation and worries about the recovery of the manufacturing economy.

Some insiders believed that the release of back-end stocking demand at the end of the year is expected to boost the market considering the support from the raw material markets and stable orders of factories. The development of emerging industries such as 5G communications, new energy, and high-end equipment manufacturing are also expected to expand product application scenarios. While others believed the instability of the macroeconomic and trade environment still suppresses terminal consumption and international circulation. The Omicron variant may exacerbate this uncertainty. For example, the consumption of tungsten products in the transportation equipment manufacturing industry such as aerospace and ship intelligence has been affected greatly.

Prices of tungsten products on December 6, 2021

domestic tungsten price image