Stability in the Tungsten Market amidst Macroeconomic Trends

Analysis of latest tungsten market from Chinatungsten Online

The tungsten price continues to stabilize, with the market fundamentals maintaining a stalemate. Cost pressures are passively driving smelters to follow price increases, but there are fewer transactions at higher levels. While the overall macroeconomic situation in China remains positive, the global economic pressure amid geopolitical tensions casts uncertainty over tungsten consumption. 

As the month-end approaches, the tungsten market overall remains in a holding pattern, awaiting guidance from new institutional and corporate pricing after the month changes.

On the macroeconomic front, according to data from the National Bureau of Statistics, in the first two months of 2024, the total profits of industrial enterprises above designated size reached 9.14 trillion yuan, a year-on-year increase of 10.2%. Operating income was 19.44 trillion yuan, up 4.5% year-on-year. At the end of February, the asset-liability ratio of industrial enterprises above designated size was 57.1%, a decrease of 0.1 percentage points year-on-year.

Prices of tungsten products on March 29, 2024

Picture of APT

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