Guide Prices for Late March Declined, Weakening Market Confidence

Analysis of latest tungsten market from Chinatungsten Online: A large tungsten enterprise in Jiangxi province released guide prices for late March on Tuesday. 65% wolframite concentrate was quoted at $17,209.3/t, down $310/t; 65% scheelite concentrate was quoted at $16,976.7/t, down $310/t; APT price declined by $5.3/mtu to 299.6/mtu. The guide prices fail to reach insiders’ expectation, weakening market confidence.

Enquiry in the tungsten concentrate market remains quiet, downstream smelting factories are not active in trading due t0 the declining product prices and tungsten ore traders do not need replenishment at present. Therefore, the market shows signs of worry and price is under pressure.

With the continuing price decline in tungsten concentrate and APT, tungsten powder enterprises are likely to adjust their product prices. And the weak terminal demand further limits the price rise. According to tungsten powder enterprises from Jiangxi, Hunan, Fujian, high-price products are difficult to be concluded in batch quantity.

Tungsten market in China is in an unfavorable condition with bearish atmosphere, and buyers and sellers are in a stalemate. Therefore, tungsten price will maintain weak adjustment.

Prices of tungsten products on Mar. 21, 2018

Picture of tungsten powder 

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