Tungsten Industry in China Is Returning to Normality

Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and ammonium metatungstate(APT) prices continue to stabilize in late April as much of Europe, North America and elsewhere remains under lockdown with varying restrictions on businesses in order to halt the spread of the COVID-19 pandemic. But the tungsten industry in China is returning to normality.

Tungsten prices recovered toward the end of 2019, following a period of decline through late 2018 and much of 2019. Widescale environmental clampdowns in China led to buoyant prices across 2017 and early 2018, as many large-scale tungsten operations were forced into suspension, with European FOB APT prices peaking at $352/mtu in June 2018. As many of these operations returned to production from late 2018 and demand began to stutter in the Chinese automotive sector, prices slumped into 2019, reaching a floor of $200/mtu in September 2019.

The auction for APT inventories, previously held by Fanya, halted the price slide in September 2019. The auction and high winning bid immediately spurred a jump in the European APT price to $240/mtu, amid improved market sentiment. The APT price has remained stable into mid-April 2020, with little impact thus far on spot prices from COVID-19 supply chain disruptions. However, as much of the world enters lockdown periods to prevent the spread of the pandemic, Chinese concentrate prices have begun to show downside weakness, as feedstock consumption at domestic APT smelters slows.

Prices of tungsten products on Apr. 28, 2020

Picture of yellow tungsten oxide

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >