Tungsten Price Will Gradually Stabilize in the Afternoon Market

After continuous rally, tungsten price stared to stabilize last week, some tungsten ore traders chose to make proper shipments and the difficulty of purchasing raw materials for downstream market was reduced. Moreover, the quotation in the tungsten concentrate market was closed to the floor level. Under the high quotation of APT, downstream buyers were reluctant to purchase, so the actual trading price shown signs of slight drop. As for the tungsten powder market, market participants waited and saw, and high quotation became less.

In last week, the highest transaction price of 65% wolframite concentrate reached $17,054/t. After the price rising to reasonable expectation, profit shipments in the market rose, with prices concentrating at $16,589-16,744/t. Shipments increased, but were rational instead of panic, coupled with supply of tungsten mines did not change significantly, so the price had limited space for adjustment. 65% wolframite concentrate increased by $155/t to $16,434-16,744/t last week.

APT market also showed signs of slight adjustment. At the beginning of the week, market quotation reached $297.8/mtu, but with the rising shipments of APT manufacturers, market participants were not willing to purchase at high price. It was understood that the actual transaction prices were concentrated at $289-294/mtu, some manufacturers’ quotation even exceeded the range, but was hard to conclude a deal. APT price was $289-294/mtu, unchanged with the beginning of week.

Tungsten powder prices were at erratic because the nature of enterprises and procurement costs of raw materials were different. From the last Thursday, prices of tungsten raw materials rose to high levels after a slight drop and were unlikely to rise again in the short term. As of last Friday, tungsten powder price was $40-40.6/t, up $0.3/t compared with the beginning of last week.

Taken together, insiders are rational about the current market quotation, no matter the sharp rise or slight drop. And most manufacturers operate according their own situations, on the one hand, they face great pressure of capital return at the year-end, on the other hand, fluctuations in prices are frequently, although the supply side can pull up the tungsten price, the demand in the terminal market is also important, after all, the terminal demand is always the motivity supporting the product prices. Chinatungsten Online forecasts that tungsten price will gradually stabilize in the afternoon market. 

Price of tungsten products on Nov. 27, 2017

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