Tightening Availability of Raw Material Boosts China’s Tungsten Price

Analysis of latest tungsten market in China from Chinatungsten Online: After the Lantern Festival, domestic tungsten market becomes more active, but trading atmosphere is still quiet. The guide prices for early March from institutions and large tungsten enterprises were released on Monday, which boosts market confidence. Raw materials sellers are bullish on tungsten price, so the quotation keeps firm.

In the tungsten concentrate market, some mines still stop production to undergo repair, plus the "Two Meeting in 2018" convening, mines’ operating rate remains at low level. The whole market supply is tight and sellers generally have strong rised mentality. Tungsten concentrate price is expected to reach $17,830/t.

With the tightening availability of raw material, smelters are not willing to receive new orders, so spot goods in the APT market are rare. Manufacturers’ quotation keeps firm, following main markets. Considering the deadlocked supply and demand, sales in the terminal alloy market are unclear, and thus companies are more cautious on purchasing raw materials. New orders in the market need to be improved.

Taken together, the shortage of raw materials gives confidence for tungsten market, but whether the price rise can continue or not, it depends on the terminal demand. Chinatungsten Online suggests that market participants remain rational.

Prices of tungsten products on Mar. 07, 2018

Picture of tungsten powder

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