Trading Volume Slows Sharply on Quiet Tungsten Market

Analysis of latest tungsten market in China from Chinatungsten Online: Trading volume in domestic tungsten market becomes less as buyers worry further decline of price in latter market and start to slow down the pace of procurement. 

The rally in earlier stage has boosted the long-downturn industry. But with the decline of tungsten products price, expected average price from tungsten association and long-term negotiated price from large enterprises after the holidays, market participants get discouraged. Under the circumstance, tungsten price will remain weak adjustment in the short term.

Tungsten concentrate market is weak but stable, without any representative deals. Buyers still want to purchase products at low price, but sellers are more willing to sell. The current quotation for 65% wolframite concentrate ranges between $16,279 per tonne and $16,434 per tonne, but the actual transaction price ranges from $16,124 per tonne to $16,279 per tonne; 60% scheelite concentrate quotas from $15,969 per tonne to $16,124 per tonne and the the actual transaction price ranges from $15,813per tonne to $15,969 per tonne.

Smelters try to make concessions as downstream enterprises continue to force price down. Manufacturers intend to stabilize the price, but limited orders make fierce competition among enterprises. It is reported that some manufacturers are holding stock for better price. When the price is lower than $284 per mtu, they will not sell. Under the circumstance of weak demand, APT manufacturers reduce products price for more shipments. The quotation for APT ranges between $282 per mtu and $287 per mtu.

After the National Holiday, tungsten powder market shows poor performance, without strong demand or low cost. The quotation is in the chaos amid some quotes from $40.30 per tonne to $41 per tonne, and other quotes under $40 per tonne. Tungsten carbide price is $40.3o per tonne to $40.80 per tonne. Cobalt price continues to operate with good trend.electrolytic cobalt price stabilizes from $65,891 per tonne to $67,907 per tonne and cobalt powder price stabilizes from $76 per kilogram to $79 per kilogram.

Taken together, tungsten products prices are slowing down their downside trend. On the one hand, with the continuous price decline, most negative factors have been transformed; on the other hand, the 19th National Congress is at the corner, uncertain policy and macro-economic factors enhance insiders’ expectations. During the Silver October, tungsten market faces a lot of uncertainty and products price lacks visible direction guidance. Though no further signs of sharp decline, China favor a relatively rangebound market.

Price of tungsten products on Oct. 13, 2017

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