China Tungsten Price Started to Stabilize After a Decline in Early November

Details: Category: Tungsten's News; Published on Tuesday, 17 November 2020 16:12

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price started to show sign of stabilization after a recent decline in the week ended on Friday November 13, 2020.

On the one hand, due to squeezed profits of production enterprises, there are little room for price cuts; on the other hand, offers released by listed companies stabilized, supporting market confidence to some extent. However, the market is expected to remain a wait-and-see atmosphere until clear directional guidance is published.

Miners in the tungsten concentrate market still has strong rised mentality while downstream buyers purchased raw materials based on actual demand. Concentrate price stabilized at around $12,769.2 per tone. Smelting factories in the APT market kept low operating rate as they feared to face risk of price inversion and also tried to ease the pressure of capital shortage. as for the tungsten powder market, it was expected to start to a new round of replenishment in the wake of the recovery in domestic economy and the consumption of inventories.

Prices of tungsten products on November 16, 2020

China tungsten price image