China Tungsten Price Stops Rising in January Due to Continued Spread of Covid-19

Details: Category: Tungsten's News; Published on Friday, 15 January 2021 18:22

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price is unchanged from the previous trading day on January 14, 2021 as market trading declines slightly.

On the one hand, with the approaching of Chinese Spring Festival, more and more factories stop production to undergo repair and downstream buyers keep low consumption after concentrated restock; on the other hand, affected by worsened situation in the spread of Covid-19 all over the world, logistics, production and consumption are weakened. In the short term, the market is expected to be caught in wait-and-see atmosphere.

In the tungsten concentrate market, raw material suppliers are optimistic about the control to Covid-19 in China and the recovery in the demand while some of them are worried about the turnover of capital at the end of the year. Under the power limit and environmental protection increasing production costs, tungsten concentrate offers are hard to increase.

In the APT market, smelting factories remain low inventories and are cautious to take orders. Although they have strong risd mentality and raised offers to about $242.1 per mtu, actual transactions are limited due to low acceptance of downstream for high prices.

Prices of tungsten products on January 15, 2021

China tungsten price image