China Tungsten Price Remained Stable After the Holiday of May Day

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable in the first trading day after the holiday of May Day as the whole market kept quiet without news updated. 

In April, the negative impact caused by the epidemic on the automobile and other industries still exists. However, there are many positive signals that the market is gradually recovering after the holiday. On the one hand, the risk sentiment outside the fundamentals has been consumed in the early stage; on the other hand, the resumption of work and production under the effective prevention and control of the epidemic is expected to drive downstream terminal consumption to recover one after another.

In addition, factors such as the conflict between Russia and Ukraine, repeated epidemics and frequent extreme weather events will continue to affect global inflationary pressures, resulting in energy shortages and rising prices. In this context, the cost of raw and auxiliary materials for tungsten products will remain high, and the tungsten price will continue to be high. 

A report by S&P Global before May Day suggested that climate change could lead to a loss of 4% of global GDP by 2050, with poverty-stricken areas being the hardest hit. The World Meteorological Organization also pointed out that in the past 50 years, the world has been hit by climate disasters every day on average, with an average daily loss of more than 205 million US dollars.

Prices of tungsten products on May 6, 2022

Picture of tungsten ore 

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