Large Enterprises Are Bullish on Tungsten Market

Analysis of latest tungsten market in China from Chinatungsten Online: Opening this week, the long-term negotiated prices of large enterprises for the second half of November are released, which means tungsten market comes back to the upward trend. Considering the gap between the quotation and market price, it cannot be regarded as guidance for the afternoon market. But the mentality of traders is boosted and tungsten market will continue to be stable with good momentum.

The long-term negotiate prices of Zhangyuan Tungsten for the second half of November: 65% wolframite concentrate quotes at $16,589 per tonne, up $930 per tonne compared with the first half of this month; 65% scheelite concentrate quotes at $16,357 per tonne, up $930 per tonne month-to-month; APT quotes at $289 per mtu, up $15.8 per mtu. Meanwhile, the long-term negotiate price of Xiamen Tungsten for APT stands at 285.6 per mtu, up $14 per mtu. 

The current quotation for high-grade tungsten ore and APT is gradually close to $17,054 per tonne and $297.80 per mtu, respectively, according to information from Chinatungsten. The quotation slightly exceeds this round of guidance prices, meaning that large enterprises are still cautious about the late market trend. Though the shortage of tungsten ore makes market participants optimistic about the raw material market, the weak demand of terminal products cannot be ignored. Capital turnover also is one of the reasons that downstream manufacturers delay their purchases.

Comprehensive analysis: the current tungsten market is fully supported by the large enterprises, and business and customer confidence remains quiet strong. From the point of view, as long as the shortage of supply continues, tungsten price still has large space for rising. In addition, whether the trade market inventory circulation will improve the relationship between supply and demand or not or how financial strain at the year-end affects that market need to be concerned. Chinatungsten Online suggests enterprises should purchase according to their orders.

Price of tungsten products on Nov. 21, 2017

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