China Tungsten Price Was Weak Due to the Coronavirus

Opening this week, the tungsten price in China remained weak adjustment as traders were active in selling products, but buyers still took a watchful stance. The whole market is quiet with rare transactions concluded. 

The restrictions for import and export from countries as the coronavirus have caused the downturn of global economy, which also affects the tungsten industry greatly. Although situation in China is getting better, smelting companies face pressure to reduce production due to the impact of sluggish terminal demand and low import and export. It is expected that the supply and demand sides of the tungsten market will be further improved with the recovery in infrastructure and production cuts of enterprise in April. In the short term, the new guide prices from listed tungsten company will be the focus.