China Tungsten Price Stabilized on Quiet Market in Early June

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price maintained stability at the beginning of the week when participants are waiting for the new guide prices from Ganzhou Tungsten Association and listed tungsten companies. 

Although the demand for tungsten products is expected to increase in June, the current overall consumption is still relatively weak, and actual orders are hardly to be concluded, especially the alloy end is under pressure due to the weak price of raw cobalt powder.

In the tungsten concentrate market, high-grade offers stagnated at around $17,230.8/ton with increased rised mentality of sellers. However, the demand side is weak and mainstream product offers will tend to stabilize. 

In the APT market, offers in the sport market stabilize at about $299/mtu. On the one hand, the cost of raw and auxiliary materials supports smelters to show a positive sentiment; on the other hand, the demand pressure will not be easily relieved considering the quiet trading activity. 

In the tungsten powder market, most transactions were concluded below $40.0/kg and enterprises received few new orders from buyers both at home and abroad. With the recent intensive implementation of measures to promote consumption and stabilize the economy, the market fundamentals are expected to return, but the real demand remains to be seen.

On the macro level, the People's Bank of China will strengthen policy guidance in five areas: market entities, effective investment, cost reduction, key areas, and opening to the outside world, so as to timely and accurately benefit the trapped groups and key areas, and help stabilize the overall economic market. In the next step, we will rely on forward efforts and appropriate efforts to further increase the implementation of the prudent monetary policy, give full play to the policy effect of stabilizing the economy and helping enterprises to bail out, and keep the economy operating within a reasonable range.

Prices of tungsten products on June 7, 2022

Picture of tungsten acid 

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