Cemented Carbide Enterprises Raise Their Offers on Rising Cobalt Price

Analysis of latest tungsten market from Chinatungsten Online: The bearish atmosphere in whole raw material market and wait-and-see mentality of businesses at the end of the month lowers buying activity. Downstream market tries to force price down while traders have strong willingness in selling. And due to the game between fundamentals and funds, some enterprises stop quoting, waiting for new guide prices from institutions and large tungsten enterprises.

Purchasers in the tungsten concentrate market aim to buy low-price products, and downstream enterprises have limited consumption for raw materials, so the market is weak at present. 65% wolframite concentrate price will hover around $17,209/t in the short term.

The quiet enquiry of downstream smelting factories weakens market confidence, part of businesses even stop offering, waiting and seeing. The weak demand would continue to press APT price and market trading.

Though prices for downstream alloy products rise, increasing pressure between supply and demand slows down the growth in actual demand. The rising cobalt price makes most cemented carbide enterprises raise their offers and then influencing market price. Tungsten powder price stands around $42.6/kg with restricted fluctuations.

Prices of tungsten products on Mar. 29, 2018

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