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China Tungsten Price Remained Strong at the End of December

Posted by: Chris Na 2021-11-12 Comments Off on China Tungsten Price Remained Strong at the End of December

China tungsten Price Remained Strong at the End of December

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Category: Tungsten’s News
Published on Wednesday, 30 December 2020 10:54

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained strong in the week ended on Friday December 25, 2020 affected by the rise in average tungsten forecast prices and tightening availability of raw materials. 

China’s environmental protection inspection and restricted power in major tungsten producing areas had a certain impact on the production and costs of smelting factories and thus market price continued its upward trend. But the worsened situation of Covid-19 around the world also worried market participants. With the approaching of New Year, the market is expected to be stable. 

Freight rates for both bulk vessels and containers have soared to record highs in recent months amid a perfect storm of higher global shipping demand and rising crude oil costs.

Those involved in the container trade have been particularly hurt, facing an acute shortage of containers, shipping lines canceling existing contracts and a cut in free days granted to unload cargo. Shipping problems faced by commodity market participants are likely to get worse ahead of Chinese New Year on February 12, 2021.

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