en.Wedoany.com Reported - In May 2026, China's tungsten-molybdenum industry prosperity index stood at 57.6, up 2.4 percentage points from April, remaining in a slightly overheated range; the leading index was 79.4, up 14.4 percentage points from April; the coincident index was 77.9, down 0.1 percentage points from April.
Among the nine indicators constituting the prosperity index, five were in the normal range, three (tungsten-molybdenum price index, tungsten-molybdenum main business revenue index, and tungsten-molybdenum total profit index) were in the slightly overheated range, and the crude steel production index was in the slightly cold range.
The leading index was 79.4, up 14.4 percentage points from April, composed of the tungsten-molybdenum price, M2, tungsten-molybdenum export value index, tungsten-molybdenum fixed asset investment index, cemented carbide production index, and crude steel production index. The rise in this index indicates that tungsten-molybdenum prices have increased, and the growth rate of cemented carbide demand has shown signs of recovery.
The tungsten-molybdenum price index was 185.6, up slightly by 2.3 percentage points from April, remaining in the slightly overheated range. Influenced by rising tungsten ore prices, the tungsten-molybdenum market continues its upward trend.
The M2 index was 46.5, down 1.7 percentage points from April, remaining in the normal range overall, with monetary policy maintaining a prudent stance.
The tungsten-molybdenum export value index was 12.8, up 29.4 percentage points month-on-month, remaining in the normal range, as export structure optimization drives marginal improvements in foreign trade.
The tungsten-molybdenum fixed asset investment index was 75.3, up 17.7 percentage points month-on-month, still in the normal range. Enterprises continue to increase investment in technological innovation and green transformation.
The cemented carbide index was 103.4, up slightly by 0.6 percentage points month-on-month, remaining in the normal range, with robust demand from high-end manufacturing driving sustained production growth.
The crude steel production index was -39.9, up 6.8 percentage points month-on-month, still in the slightly cold range. Affected by weakness in real estate and exports, the steel industry continues to face pressure.
The tungsten-molybdenum production index was 45.0, up 14.9 percentage points month-on-month, remaining in the normal range, as enterprises actively optimize production rhythms, leading to a more balanced supply-demand dynamic.
The tungsten-molybdenum industry main business revenue index was 258.1, up 64.1 percentage points month-on-month, remaining in the slightly overheated range, as market recovery significantly improves corporate revenue.
The tungsten-molybdenum industry profit index was 173.0, up 19.5 percentage points month-on-month, remaining in the slightly overheated range, with price increases and revenue growth jointly driving steady profit enhancement.
Overall, the China tungsten-molybdenum industry prosperity index rose slightly in May, continuing in the slightly overheated range, indicating an overall overheated industry operation. The rebound in the leading index suggests enhanced momentum for subsequent development and improved expectations; the slight decline in the coincident index indicates that current real economic operations such as production and management are generally stable, with short-term growth momentum slightly slowing. In the international market, global tungsten-molybdenum supply remains tight, geopolitical conflicts in the Middle East exacerbate raw material uncertainties, and energy price fluctuations support costs. Domestically, monetary policy remains prudent, with M2 slightly declining but liquidity reasonably ample. Demand-side divergence is evident: high-end manufacturing drives cemented carbide production growth, while crude steel production remains in the slightly cold range, with traditional demand dragging down overall industry performance. Industry profitability is notable, with tungsten-molybdenum prices, revenue, and profit indices all in the slightly overheated range. Enterprises benefit from supply contraction and high-end demand growth, with profitability levels continuing to rise. Exports show marginal improvement, fixed asset investment focuses on technological innovation and green transformation, and the production side actively controls output to balance supply and demand. Overall, the tungsten-molybdenum industry remains in a high-prosperity cycle, with short-term adjustments not altering the long-term positive trend. A tight supply-demand balance and high-end demand support the industry's subsequent performance.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
