China Tungsten Price Continues to Explore Higher Levels

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues to explore higher levels, but the market volume and price are not matching. This current upward cycle is mainly driven by the scarcity of tungsten ore resources and the active resonance in the commodities market. 

However, the current heat, deviating from the fundamentals, is more driven by the reluctance of miners to sell at low prices, especially with the approach of the May Day holiday. Tungsten product prices continue to operate at high levels, prompting consumers to enter the market more cautiously, intensifying the bargaining at various stages.

In addition to being vigilant about the irrational pursuit of higher prices and the risk of profit-taking in the tungsten market, Chinatungsten Online reminds industry colleagues to pay attention to the uncertainty of black swan events. On one hand, sudden geopolitical conflicts or abnormal natural climate events may lead to a tightening of supply and price increases for strategic resource tungsten. On the other hand, major economies worldwide experiencing significant setbacks will shake the international financial markets and curb tungsten industry trade. This includes risks such as high inflation and loose debt policies in the United States, rapid depreciation pressure on Asian currencies like the Japanese yen, Philippine peso, Indonesian rupiah, Vietnamese dong, South Korean won, Thai baht, and Western countries amplifying or distorting "competition from China," all of which will pose challenges to global economic recovery and tungsten industry trade.

Prices of tungsten products on April 30, 2024

Picture of cemented carbide spherical shape bits

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