Chinese Tungsten Prices Are Stable in Early December 7, 2023

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices are temporarily stable in early December 7, 2023. Recent performances from the mining end exhibit a resilient stance, but consumer demand remains weak. 

The market continues to witness a tug-of-war along the industrial chain, resulting in a stalemate in trading activities. Orders beyond immediate needs are scarce, and market participants are observing the release of year-end stocking, referencing quotes from mainstream institutions and large enterprises.

On the macro level, Moody's rating agency's latest report maintains China's sovereign credit rating unchanged but adjusts the outlook from "stable" to "negative," expecting China's economic growth to slow in the next decade. The Chinese Ministry of Finance expressed disappointment at this "downgrade warning" and stated that, in the face of a complex and challenging international situation, China's macroeconomic recovery continues to improve steadily amid the unstable global economic recovery and weakening momentum. Since the third quarter, positive changes have increased, and endogenous dynamics have continued to strengthen. New drivers of economic growth continue to play a positive role. It is expected that China's economy will maintain a positive upward trend in the fourth quarter. China remains an important engine for stable global economic growth, with the International Monetary Fund expecting China's contribution to global economic growth to exceed 30% this year.

Prices of tungsten products on December 8, 2023

Picture of tungsten carbide rings 

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