Analysis of latest tungsten market from Chinatungsten Online
The tungsten market rose steadily on Monday, and the trading situation was still inactive. Traders paid attention to the new round of institutional and tungsten enterprise quotations.
On Monday, the tungsten market experienced steady growth with some increases, but trading activity remained inactive. Traders are paying close attention to the new round of quotations from institutions and tungsten enterprises.
The primary reason for the recent rise in tungsten prices is the support from the supply side—policy tightening and capacity bottlenecks have kept the tungsten ore market tight in supply and high in price, providing cost support for downstream tungsten product prices. However, the demand-side contradictions have not been effectively alleviated, with market consumption enthusiasm falling short of expectations, and the overall market still faces resistance in its upward trend.
Additionally, the international political and economic environment continues to exacerbate the structural contradictions in the tungsten market's supply and demand. Recently, the global tariff war initiated by the United States has triggered a sharp rise in global market risk aversion. China's tungsten product exports are facing more complex compliance costs and logistical variables. At the same time, geopolitical risks and trade barriers have also increased the instability of the global supply chain, continuously pushing up the safety premium for global tungsten resources.
Trump's "Reciprocal Tariff" Effect
On April 2, U.S. President Donald Trump signed two executive orders at the White House regarding so-called "reciprocal tariffs," announcing that the United States would impose a 10% "minimum benchmark tariff" on trading partners and higher tariffs on certain trading partners. Specifically, a 34% reciprocal tariff on China, 20% on the European Union, 10% on Brazil and the United Kingdom, 31% on Switzerland, 26% on India, 25% on South Korea, 24% on Japan, 32% on Indonesia, and 36% on Thailand.
On April 2, U.S. President Donald Trump announced a 25% tariff on imported automobiles, effective from April 3.
On April 3, Trump's plan to impose comprehensive tariffs led to a sharp decline in U.S. stocks. The Nasdaq fell 5.97%, marking its largest drop since March 2020; the S&P 500 index dropped 4.84%, its biggest single-day decline since June 2020; and the Dow Jones fell 3.98%, its largest single-day drop since June 2020.
On April 4, the State Council Tariff Commission issued Announcement No. 4 of 2025, stating that starting from 12:01 on April 10, 2025, a 34% tariff would be imposed on all imported goods originating from the United States.
On April 4, a spokesperson for the Ministry of Commerce answered reporters' questions regarding China's lawsuit against the U.S. "reciprocal tariff" measures at the World Trade Organization.
On April 4, the Ministry of Commerce and the General Administration of Customs issued Announcement No. 18 of 2025, announcing the decision to implement export controls on certain medium and heavy rare earth-related items.
On April 4, the Ministry of Commerce issued Announcement No. 19 of 2025, announcing the initiation of an industrial competitiveness investigation into imported medical CT tubes.
On April 4, the Ministry of Commerce issued Announcement No. 20 of 2025, announcing the initiation of an anti-dumping investigation into imported medical CT tubes originating from the United States and India.
On April 4, the Ministry of Commerce issued Announcement No. 21 of 2025, adding 16 U.S. entities to the export control list.
On April 4, the Unreliable Entity List Working Mechanism issued Announcement No. 7 of 2025, adding 11 U.S. companies, including Skydio, to the unreliable entity list.
On April 5, foreign media reported that there were up to 1,200 protests across the United States on that day, opposing local government spending cuts, crackdowns on immigration, and tariff increases.
Prices of tungsten products on April 07, 2025
Picture of tungsten potassium electrode
