Weak Demand and Tight Supply Refuse to Budge in Chinese Tungsten Market

Analysis of latest tungsten market in China from Chinatungsten Online: The rise in Chinese tungsten price becomes slower this week. Risk awareness is raised in the raw material market, but weak demand and tight supply still refuse to budge. Under the background, tungsten price is expected to remain rangbound in the short term.

In the tungsten concentrate market, main production areas keep their stocks at low level while downstream enquiry becomes more active, thus manufacturers rised mentality is stronger, ore price the parties in wait-and-see mood climbing. Tungsten concentrate price will continue to be stable.

Affected by positive sentiment of upstream raw material market, APT manufacturers have low willingness of selling products at low price. The terminal demand cannot keep up with the rise of raw material prices, slowing purchasing pace of downstream smelting plants. Considering the poor transactions, enterprise will narrow the range of quotation.

Supported by raw material costs, some alloy manufacturers have started to rise product prices, despite orders in the market remain less. Downstream market’ need for tungsten powder is not high, so tungsten powder manufacturers stabilize their quotations and trading mainly depends on rigid demand.

Taken together, though downstream market is gradually affected by the hot raw material market, buyers’ needs and funds pressure will influence market trend. Short-term tungsten market will stabilize, waiting for new guide of large enterprises.

Prices of tungsten products on Dec. 15, 2017

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