China’s Domestic Tungsten Price Stabilizes in the Second Half of May

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price is unchanged from the previous trading day with rare deals concluded in the market. Due to continued spread of COVID-19 in the world, and weak demand, participants mostly hold cautious sentiment, waiting for new guidance from the market. 

The tungsten concentrate market is stable supported by high production cost. Manufacturers are not will to sell their products at low prices so as to keep current market offers. Meanwhile, downstream buyers may not increase the demand in the short term. Given that, the market is in a stalemate. 

Owing to tightening availability of tungsten raw materials and the weakness in the demand side, ammonium paratungstate (APT) producers face pressure of price inversion and thus are cautious when they make quotation. Now APT price is about $264.7/mtu. 

In the tungsten powder market, most factories carry out long-term orders and new increased orders are limited. The current market trend will not change if upstream continue its stability.

Prices of tungsten products on May 26, 2021

Picture of tungsten ore 

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