The Tungsten Carbide Powder Price in the Chinese Market Continues to Stabilize

Analysis of latest tungsten market from Chinatungsten Online

The tungsten carbide powder and ferro tungsten prices in the Chinese market are unchanged from the previous trading day on May 17, 2023 because the market continues to be deadlocked. 

According to Chinatungsten Online, at present, the overall recession of the overseas economy is expected to have an emotional impact on the domestic market and restrain the export of tungsten products; Inflation, monetary policy adjustments, geopolitical conflicts, extreme weather events and other impacts on the global economy are still uncertain, which to a certain extent interferes with the atmosphere of domestic and foreign capital markets.

The endogenous driving force of the domestic economy is not strong, and the momentum of production demand in the manufacturing industry has weakened. However, the general trend of the continuous recovery of the domestic economy has not changed, giving manufacturing companies a certain degree of confidence in production and operation; As a result of the impact, buyers' bargaining sentiment increased, but the willingness to sell at low prices was not strong, supporting the solid foundation of the tungsten industry, but the sustainability remains to be seen.

According to statistics from the Bureau of Statistics, in April, the added value of China's industrial enterprises above designated size increased by 5.6% year-on-year, down 0.47% month-on-month; the total retail sales of social consumer goods reached 3,491 billion yuan, an increase of 18.4% year-on-year. From January to April, the national fixed asset investment (excluding rural households) was 14.75 trillion yuan, a year-on-year increase of 4.7%, of which private investment was 7.96 trillion yuan, a year-on-year increase of 0.4%.

Prospects for a strong global economic recovery remain bleak amid rising inflation, rising interest rates and heightened uncertainty, the United Nations said. Due to the continuation of the impact of the new crown epidemic, the impact of worsening climate change and macroeconomic structural challenges, the world economy still faces the risk of long-term low growth. The world economy is expected to grow by 2.3% in 2023 (+0.4 percentage points from the January forecast) and 2.5% in 2024. China's economic growth rate this year has been revised up to 5.3%, that of the United States has been revised up to 1.1%, and the EU's economy is expected to grow by 0.9%.

Prices of tungsten products on May 18, 2023

Picture of tungsten acid 

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >