Quotations of Tungsten Powder Enterprises Keep Firm

Analysis of latest tungsten market in China from Chinatungsten Online: Domestic tungsten price is unchanged from the previous trading day. The operating rate in mines remains low and supply of raw material continues to be tight. As a result, sellers are reluctant to sell and bullish on the afternoon market. But the rise in tungsten price needs the support of downstream demand.

Affected by the cold weather and environmental protection, most private enterprises’ mining operations are limited by the cost and time. Market trading volumes are less due to the weak demand. At present, 65% wolframite concentrate was quoted at $17,054/t. 

In the APT market, downstream smelting plants and traders are difficult to get raw material. Although buyers have high enthusiasm in enquiry, actual trading is less. Considering the high production costs and weak demand, it is hard for manufacturers to quote. 

Supported by high raw material prices, tungsten powder enterprises’ quotations keep firm, some tungsten powder’ quotations even reach $41.6/kg. But orders in downstream alloy and product market have not increased and tungsten powder price will not be changed significantly. The short-term price will hover around $41/kg.

Taken together, market sentiment is relatively stable, deadlocked supply and demand would continue and traders are waiting for the new guide prices. Tungsten price is expected to stabilize with good momentum.

Prices of tungsten products on Dec. 13, 2017

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