Tungsten Market in China Tends to Be Stable

Analysis of latest tungsten market in China from Chinatungsten Online: The convening of the 19th National Congress on Wednesday is the focus of the market as the policy and news linkages may have a great effect on the quiet tungsten market. Before the meeting, domestic market without stimulating motive powders has light trading, businesses turn negative on the latter market and tungsten products price remains weak.

The government has put more on environmental protection and safety inspection at mines. It is reported that Zhangyuan Tungsten will stop production all together to do maintenance from Oct. 16, so the supply in the market is expected to decrease. After the continuous callback, tungsten concentrate price get support at $16,279 per tonne.

Most manufacturers’ APT quotation refers to the guidance price from large enterprises. Under the circumstance of continuous reducing of purchasing enthusiasm in downstream enterprises, actual transaction price of APT keeps declining, which hovers around $284 per mtu at present.

Affected by slumping demand in the downstream alloy market and continuous decline of raw material price, tungsten powder enterprises cannot longer to support high tungsten powder price. Customers try to force price down while businesses wait and see. Medium particle tungsten carbide quotes between $40.30 per kilogram and $41 per kilogram, but the actual transaction price ranges from $39.50 per kilogram to $40 per kilogram.

Comprehensive analysis: The current market has heavy wait-and-see atmosphere, especially in the downstream processing enterprises. When the price rises, there has overstocking in the market, but with the decline of market stock, shortage supply in tungsten concentrate would come in certain places. The trend in latter tungsten market is hard to forecast. Chinatungsten Online expects that short-term tungsten price will be stable, but still need to focus on the action of the parties in the market, and enterprises need to remain rational.

Price of tungsten products on Oct. 17, 2017

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