Analysis of latest tungsten market from Chinatungsten Online
The tungsten powder and tungsten concentrate prices in China maintain stability after a slight increase early this week boosted by new guide prices from tungsten companies and associations. In the short term, the market is expected to stabilize as the demand side continues to be weak.
In the tungsten concentrate market, sellers hold some stocks of concentrates and are not will to cut their profits. Their psychological price is above $13,076.9 per Cemented Carbide Blade tone but with low trading in the level.
The ammonium metatungstate(APT) market is in a stalemate when Carbide Rods Single Hole downstream purchasers are resistant to high-price resources. But smelting factories have good expect for the outlook and raised offers above $220.8 per mtu. The tungsten powder market still remains stable with the continued spread of Covid-19 in the overseas markets. Market price hovers around $30.5 per kilogram.
The International Monetary Fund (IMF) recently announced the latest world economic outlook. It predicts that the world economy will shrink by 4.4% this year, which is 0.8% higher than the forecast in June this year. The growth rate will rebound to 5.2% in 2021, a decrease of 0.2% compared to the forecast in June. Developed economies is expected to decline by 5.8% this year, and the economies of emerging markets and developing countries will decline by 3.3%. China will be the only country in the world's major Tungsten Carbide Round Rod economies that maintains positive growth, which is expected to grow by 1.9% this year and 8.2% next year.
Prices of tungsten products on November 26, 2020
Picture of tungsten carbide powder
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