The ferro tungsten and tungsten powder prices in China are still in a relatively low level with the impact of coronavirus in early April. Ammonium paratungstate (APT) exporters experienced a slow market, while unrecovered downstream manufacturing, such as the automobile industry, in China also dragged the domestic tungsten market price down.
Many foreign customers have postponed signing long-term APT purchasing contracts, probably to late April, and are using stocks to sustain their current operations. The sluggish demand from overseas buyers made manufacturers hold a very cautious view on economic development after the virus and demand for upstream products.
Domestic companies are now relying on the new infrastructure investments that the Chinese government announced it would accelerate. In the short term, market participants would pay attention to the new guide prices from tungsten institutions and listed companies