China Tungsten Price Stabilizes in Late May with the Effective Control of COVID-19

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of the week, China tungsten price continues to remain stable as the whole market is still in a stalemate. With the effective control in COVID-19 as well as the release in personnel restrictions and logistics control in China, insiders believes that manufacturing industries such as automobiles and equipment are expected to be recovered in June, which is good for the release of demand. 

In the short term, in addition to the uncertain risks brought by the epidemic and the conflict between Russia and Ukraine, the weakness of the cobalt powder market has brought greater pressure to the cemented carbide market, affecting the overall consumption momentum of the tungsten market. The trading activity at the end of the month is limited.

In terms of macroeconomics, the Ministry of Industry and Information Technology pointed out that industry is the main body and growth engine of the national economy, and a stable industry leads to a stable economy. The second quarter is a critical period for the development of the whole year. It is necessary to implement a package of policies and measures with extraordinary strength and means to ensure the reasonable growth of the industrial economy in the second quarter, and strive to achieve the goals and tasks of the whole year. 

He also emphasized that maintaining the chain and stabilizing the chain is the top priority of boosting the industrial economy. It is necessary to promote the resumption of work and production in an orderly manner, and promptly implement the major projects and projects of the "14th Five-Year Plan" of the manufacturing industry, and appropriately deploy 5G and industrial Internet in advance. New information infrastructure, organize a new round of new energy vehicles to the countryside, launch a number of information consumption demonstration cities and demonstration projects, and promote the consumption of commodities such as automobiles and home appliances.

Prices of tungsten products on May 31, 2022

Picture of tungsten granule 

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