Tungsten Price Stabilizes When Chinese Spring Festival Is Coming

Analysis of latest tungsten market in China from Chinatungsten Online: The whole tungsten market in China has been remained thin trading recently, especially when the Chinese Spring Festival is coming. Tungsten enterprises mainly focus on the issue that more and more production lines are stopping, and thus the market maintains low enthusing in transactions.

After the stability of tungsten price, trading companies restart to stock up instead of reducing it. At the same time, raw material market keeps short supply. Spot goods are hard to be bought in the trading market.

The quotation for tungsten products is unchanged from the previous trading day. wolframite concentrate was quoted at $17,054-17,209/t; scheelite concentrate was quoted at $16,744-16,899/t; APT was quoted at $297.8-301.3/mtu; medium particle tungsten carbide powder was quoted at $41.1-41.9/kg.

Transactions in the spot market are nearly tumbled. There are still some purchasing plans in the tungsten concentrate market and price is basically stable, but tungsten concentrate supply is still tight. Downstream companies’ purchasing plans are almost finished while some enquiry prices are higher than the market price.

Taken together, the whole market is going to be closed, so the short supply would not have a great impact on the price. Another price hike may come after the holiday when supply recovers.

Prices of tungsten products on Jan. 31, 2018

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