Economic Indicators and Exchange Rate’s Impact on China Tungsten Market

Analysis of latest tungsten market from Chinatungsten Online

On the first trading day after the National Day holiday, China tungsten market is quiet with cautious sentiment of participants and continued weakness in the demand side. 

On the macro level, economic risk factors including repeated epidemics, geopolitical conflicts, inflation and exchange rate fluctuations are still troubling the operation of the industry and the market outlook. At present, the bottom-building momentum of the tungsten market is relatively limited. Most insiders are mainly focusing on the holding of the 20th National Congress of the Communist Party of China, which will limit the release of resources from mining and smelters from the perspective of environmental protection and safety. From another point of view, it may give more confidence to the demand market and the domestic economy from the perspective of policy.

Tungsten products are a special product, one is its importance and irreplaceability in the military and civilian fields; the other is China's absolute dominant position in the field of tungsten resources and tungsten products. When entering the last quarter, on the one hand, we should pay attention to the sudden change in domestic market demand for tungsten products and the possible major policy impact; on the other hand, the trend of international demand should be followed in time. There is no change in the domestic market during the long holiday, mainly focusing on the impact of major economic measures after the important meeting this month on the tungsten product market. 

In the international market, Chinatungsten Online believes that it is necessary to pay special attention to sensitive economic indicators, RMB and its exchange rate. 

Prices of tungsten products on October 9, 2022

Picture of tungsten needle 

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