China’ Zhangyuan Tungsten Declined its Offers for the Second Half of November

Details: Category: Tungsten's News; Published on Tuesday, 23 November 2021 18:37

Analysis of latest tungsten market from Chinatungsten Online

The ammonium metatungstate (APT) and tungsten powder prices keep weak at the beginning of the week as the decline in new guide prices for the second half of this month released by state-owned tungsten companies weaken market confidence.

China’ Zhangyuan Tungsten released its offers for the second half of November: black tungsten concentrate (WO3≥55%) was quoted at $16,666.7/ton, down $634.9/ton compared with early this month; scheelite concentrate (WO3≥55%) was quoted at $16,428.6/ton, down $634.9/ton; APT was quoted at $305.8/mtu, down 412.6/mtu compared with the first half of November.

Tungsten concentrate manufacturers tend to stabilize their offers after the market price lowered down $17,460.3/ton. Miners said that the they face great cost pressure in the context of environmental protection and safety requirements and the decline in resource grades.

The APT price fell to $297.7/mtu when the industry’s worries about energy supply have gradually eased, but their worries about sluggish demand have grown stronger. For the tungsten powder market, it is caught in heavy wait-and-see atmosphere. In the short term, participants will pay more attention to both raw material and demand sides.

Prices of tungsten products on November 23, 2021

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