Thin Trading in Tungsten Market Due to Chinese Spring Festival

Analysis of latest tungsten market in China from Chinatungsten Online: Opening this week, domestic tungsten market is still covered with cloud, price continued to fall and market sentiment darkens. The market now is at the buyers’ side, only some customers would purchase in small quantities.

With the approaching of Chinese Spring Festival, it is normal for the thin market trading. But under the background of anxious market sentiment and slight decline in price, the market deviates from normal track.

Quotation in tungsten market declines slightly. Wolframite concentrate was quoted at $16,899-17,054/t, falling by $155/t; scheelite concentrate was quoted at $16,589-16,744/t, down by $155/t; APT was quoted at $296-299/mtu, with an decline of $1.75/mtu; medium particle tungsten carbide powder was quoted at $41-42/kg, down $0.47/kg.

In the spot market, tungsten concentrate enterprises raise willingness in selling, but only fewer transaction prices are lower than mainstream market price. 65% wolframite concentrate was concluded with price of $16,744/t in Jiangxi province. Tungsten concentrate price declines $930/t compared with last week.

The current market price of APT stands at $296/mtu. Orders in the whole market are few and smelting factories mainly wait and see. Main smelting factories are reducing stocks while tungsten powder processing enterprises are replenishing stock, and thus the demand will be limited at present.

Taken together, the latest movements of representative firms in the tungsten market show no good news for market anticipants and the trend for price remains unknown. Chinatungsten Online forecasts that tungsten price in China will be weak and under the limited trading, the current market trend is normal.

Prices of tungsten products on Jan. 17, 2018

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