China Tungsten Market Worries Reduced Demand from Japan, South Korea

The ferro tungsten and tungsten powder prices in China tungsten market remain unchanged at the beginning of this week when market transactions are still affected by the deadlocked supply and demand. Moreover, the new guide prices from tungsten associations and listed companies were adjusted slightly, supporting current levels.

On the supply side, the mining enterprises have started production one after another, but it still takes a certain period of time to increase production capacity. From the perspective of the first batch of total mining control indexes, the growth rate of production capacity is limited. However, traders have strengthened their profit-making mentality in the recent market uncertainties. The increased supply of spot resources weakens the firm offers of tungsten products.

On the demand side, the sales in the downstream consumer industry in February was not good, mainly due to the slowdown of overall economic development of the market affected by the epidemic. However, with the effective prevention and control of the coronavirus, and national policies to support the operation of enterprises, market confidence has gradually recovered. The industry believes that market economy is expected to accelerate in order to achieve goals and tasks throughout the year. At present, the concerns on the demand side are mainly from the international market, the epidemic situation in Japan, South Korea, Europe and the United States, and the spread of influenza.

Post time: Mar-12-2020

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