Deadlocked Supply and Demand Weakens Tungsten Market Confidence

Analysis of latest tungsten market from Chinatungsten Online: Opening this week, domestic tungsten price continues to maintain weak adjustment. Bearish atmosphere covers the whole market, and downstream market follows up upstream market slowly. Though miners face little pressure of supply, buyers and sellers have different expectations for price. Therefore, the deadlocked situation presses market trading.

In the tungsten concentrate market, raw material capacity shows signs of increase due to the recovery of mine production. Terminal side tries to force price down, plus little sales in downstream factories, trading enthusiasm becomes cooler. 65% wolframite concentrate price hovers around $17,742/t.

As downstream purchasers mainly purchase at low prices, transactions in APT market become less. The supply side faces little inventory pressure, but manufacturers are still reluctant to produce when the amount of orders less than $17,580/t. this week, some traders will purchase according to their needs, so trading volumes may increase.

Prices of tungsten products on Apr. 09, 2018

Picture of APT

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