China’s Tungsten Powder Price Is Weak on Low Buying Appetite of Downstream

Details: Category: Tungsten's News; Published on Thursday, 20 July 2023 19:13

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten powder and tungsten carbide powder prices remain weak adjustment on July 19, 2023 greatly affected by the low buying appetite of downstream.

The current market is supported by the attitude of the mining end to support the market, and the raw material market is relatively controllable with low resources. However, the overall consumption of cemented carbide has not made significant progress, and the demand is expected to be under pressure in the high temperature and rainy off-season. Considering the positive support of the external economic environment is limited, the short-term market is expected to be weak.

According to statistics from the Bureau of Statistics, in the first half of 2023, the added value of industrial enterprises above designated size increased by 3.8% year-on-year, 0.8 percentage points faster than that in the first quarter. Among them, the added value of the mining industry increased by 1.7% year-on-year, the manufacturing industry increased by 4.2%, and the production and supply of electricity, heat, gas and water increased by 4.1%. The added value of the equipment manufacturing industry increased by 6.5%, 2.7 percentage points faster than that of all industries above designated size. In June, the added value of industries above designated size increased by 4.4% year-on-year and 0.68% month-on-month; the total retail sales of consumer goods was 3,995.1 billion yuan, an increase of 3.1% year-on-year.

Prices of tungsten products on July 20, 2023

China APT price image