Chinese New Year still Affects Tungsten Mines’ Operating Rate

Analysis of latest tungsten market in China from Chinatungsten Online: Smelting factories are gradually starting working while the enquiry and trading are quiet in the whole market. The expectation of short raw material supply boosts mentality of business, which provides a favorable guidance for the market outlook. Market participants in the China’s tungsten market wait the guide from tungsten institutions and large enterprises.

In the tungsten concentrate market, as operating rate of tungsten mines is affected by Chinese New Year, environmental protection and two sessions, the new supply of tungsten concentrate grows slowly and thus optimistic expectation for the raw material market. At present, high grade tungsten concentrate price mainly remains at $17,209/t, with fewer transactions concluded.

The demand in the downstream APT market is released slowly. Meanwhile, smelters face little sale pressure and manufacturers mainly produce orders that received before the holiday, plus the tight raw material, so APT manufacturers have got fewer plans in receiving orders. APT price stabilizes at $304.8/mtu.

The holiday for Chinese New Year is just over. Demand in the terminal market has not yet recovered, so tungsten powder manufacturers maintain cautious mentality. While the optimistic expectation for late raw material market offers support for the market, plus the continuing recovery of alloy and product enterprises consumes some of inventories, short-term tungsten powder price is set to stabilize.

Prices of tungsten products on Feb. 28, 2018

Picture of tungsten carbide powder

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