Chinese Tungsten Prices Are in the Upward Trend in Early June

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are in the upward trend in early June despite of a stalemate is setting in between buyers and sellers, and only changes in demand patterns are likely to break the deadlock.

Chinese prices for APT, concentrates and ferro-tungsten rose in April-May owing to tight supply of concentrates, as producers of the feedstock emerged from lockdown at reduced run rates. As a result, many tungsten producers raised their bid prices. Chinese state-controlled tungsten producer Jiangxi Tungsten Group increased its offer price for 65pc grade wolframite concentrate for May delivery, while tungsten carbide producer Guangdong Xianglu raised the first-half May bid prices for concentrates and APT.

But European tungsten prices have held steady. The rather flat price environment is largely owing to a lack of spot demand in Europe, as downstream consumer sectors were temporarily shut down amid the Covid-19 pandemic. Tungsten consumption is closely correlated with global economic growth as tungsten carbide, alloy and chemicals are used in the construction, electronics, mining, automotive and petrochemical industries.

Prices of tungsten products on Jun. 3, 2020

Picture of APT

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