Tungsten Market Waits Guide Prices From Large Enterprises

Analysis of latest tungsten market in China from Chinatungsten Online: As the guide prices for Chinese tungsten market from Tungsten Associations and large enterprises will released soon, most tungsten enterprises have low enthusiasm in trading. But market confidence remains quite strong due to good expectation for market outlook. Supply of raw material is expected to reduce, mainly because major companies are reluctant to sell before the Spring Festival. Once they sell their products, it will be hard to replenish stocks.

Quotation for tungsten products is unchanged. Wolframite concentrate was quoted at $17,519-17,674/t, which equates to $0.246-0.25/kg without tax. Scheelite concentrate was quoted at $17,209-17,364/t, equating to $0.241-0.245/kg without tax. APT was quoted at $304.8-308.3/mtu. Medium particle tungsten carbide was quoted at $41.6-42.3/kg, and the average price increased by $0.47/kg.

In the spot market, a smelting factory in Hanzhou concluded a deal of 60 wolframite concentrate with price of $17,674/t. Most quotations for 55 scheelite concentrate stood at $17,209/t, which is much higher than before. Due to the limited capital of smelting factories, tungsten concentrate price will keep firm temporarily. 

Quotation for main smelting factories maintains at $306.6-308.3/mtu. Most purchasing enterprises such as tungsten powder companies have a certain replenishment of stocks in the previous stage. With the gradually stability of tungsten market price, processing enterprises now wait and see. Supply of APT spot reduces, enterprises face high production cost of tungsten concentrate, and the environmental protection limits raw material production. These factors of prominent features of the market need to be concerned.

Analyzed from the current market price, the space of rise is limited. But from the supply and demand, the supply is tight, and the demand may improve as many enterprises will stock up around the Spring Festival. On the whole, tungsten market will continue to run orderly. The guide prices from large enterprises will be released this Friday, which would guide the market toward positive direction.

Prices of tungsten products on Jan. 04 2018

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