Tungsten Price in China Shows Stability on Optimistic Mentality

Analysis of latest tungsten market in China from Chinatungsten Online: Opening this week, domestic tungsten price shows stability, with optimistic mentality in the raw material market. Downstream factories become active in inquiry, but still maintaining low purchasing enthusiasm. On the whole, market trading atmosphere is quiet and traders mainly focus on the quotation from large enterprises.

In the tungsten concentrate market, workers in the mines have not yet started working, plus two sessions will be held in the early March, capacity of tungsten ores would be affected. Moreover, as some smelting factories only prepared a small amount of stocks before the holiday, they would continue to stock up in March. Therefore, the relationship between supply and demand may improve in the short term and tungsten concentrate price will stabilize.

Smelting factories are planning to purchase tungsten raw material. But as they had some in the stock, the actual transactions in the APT market are fewer. At present, terminal demand had not yet recovered and smelting factories maintain mainly reply on orders received before the holiday. According to Chinatungsten Online, Xiamen Tungsten released the second guide prices in February amid APT price was 298.7/mtu, slightly lower than the current market quotation 301.3-304.8/mtu.

Downstream alloy and products enterprises start production one by one, but due to the adequate stocks, tungsten powder enterprises are not willing to inquiry or purchase at the time being. Besides, large tungsten enterprises have not shown their attitude toward the late market, so business will wait and see and tungsten price will be stable in the short term.

Prices of tungsten products on Feb. 27, 2018

Photo of tungsten carbide powder

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