Chinese Tungsten Price Will Stabilize in the Short Term

Analysis of latest tungsten market in China from Chinatungsten Online: The supply and demand in Chinese tungsten market will still refuse to budge with the approach of New Year’ Day, posed by stopping production in mines and factories, interwoven environmental protection policy and financial strain. This week, the new guide prices from large enterprises and associations will come one after another and with the support of costs, market expectations will be positive.

In the tungsten concentrate market, under the background of mainstream tungsten producing areas reducing production, though thin trading volume limits the space of rise of raw material, most sellers still are reluctant to sell. The quotation in the whole market keeps firm. 65% wolframite concentrate was quoted at $17,364/t.

Affected by tight supply and financial strain, enterprises’ operating rate remains at low level. But with the rise of raw material prices, market goods reduce and smelters become more cautious. APT price is following up upward market slowly.

Orders for cemented carbide and tungsten products are less, urging smelting enterprises to be cautious on market trend and lowering enthusiasm on purchasing. Quotation for tungsten powder was $41.8/kg while actual market price hovered around $41.2-41.6/kg.

Taken together, tungsten price have got strong support at the bottom and with the stricter environmental protection inspection, most traders are bullish on the market. Moreover, supported by rise of guide prices, short-term Chinese tungsten price will stabilize.

Prices of tungsten products on Dec. 20, 2017

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