Manufacturers Are Rational About the Rise in Tungsten Price

Analysis of latest tungsten market in China from Chinatungsten Online: Tungsten market started to stabilize last week. And with growing bullish sentiment and increasing difficulty of purchasing raw materials, costs kept increasing. It was reported that insiders though some certain space for rising in the afternoon market, but by the end, finances and the actual demand also need to be considered. Chinatungsten Online forecasts that the rally is hard to reach to the same level as earlier stage, so it not suggests following blindly when at high point.

APT market continued to be kept at high level. Some smelters are bullish on the market and mainly followed the raw material market in their operations, affected by increasing costs. Besides, they even stopped to quote. The rise in price boosted downstream demand, but initiative still had room for improvement. As of last Friday, the price of APT rose to $289 per mtu to $293 per mtu, up $10.5 per mtu compared with earlier the week.

Tungsten powder manufacturers purchased raw materials according to their orders and production costs increased. While the actual demand in the terminal market were not improved effectively. Meanwhile, some tungsten powder manufacturers were worried about the sustainability of the rising prices. As of last Friday, price of tungsten powder ranged between $39.7 per kilogram to $40.3 per kilogram and price of medium partial tungsten carbide ranged between $39.4 per kilogram to $40 per kilogram, up $0.9 per kilogram.

Taken together, insiders are rational about the price rise. On the one hand, the terminal demand shows no signs of recovery; on the other hand, the changing of fund flows and demand would have a great influence on the afternoon market considering the approaching of year-end. It is reported that most manufacturers is generally cautious despite they are bullish on the late price. Chinatungsten Online forecasts that the price of tungsten concentrate will get close to $17,054 per tonne and APT price may climb to the level of $298 per mtu. But in the long run, it is uncertain whether the price rise will last.

Price of tungsten products on Nov. 20, 2017

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