Mainstream Tungsten Prices Decline on Weak Customer Mentality

Analysis of latest tungsten market in China from Chinatungsten Online: Opening this week, domestic tungsten products price continues downward trend but with slower pace, mainly boosted by production restriction in supply side. Raw material side attempts to support the market while downstream enterprises slow down their procurement schedules. The actual transaction in the market is less and tungsten prices have no enough power to rise.

The latest quotation for tungsten products edges lower. Wolframite concentrate quotes at $15,814 per tonne to $16,124 per tonne, the average price declining $310 per tonne; scheelite concentrate ranges from $15,504 per tonne to $15,814 per tonne, down $310 per tonne on average; APT quotation is $277 per mtu, down $3.5 per mtu; medium particle tungsten carbide quotes at $39.5 per kilogram to $40.3 per kilogram, down $0.78 per kilogram.

The environmental protection policy is the main stimulating factor supporting tungsten price. Production in mines is limited, but the cost keeps rising, as a result, miners’ consciousness is enhanced on supporting the market. However, the demand has not yet recovered, the continuous tepid volume increases spot stocks and manufacturers face funding pressure. Short-term raw material price will stabilize.

The mines and traders have reduced their shipments at a discount as they hope the 19th National Congress would bring favorable policy. It is hard to purchase raw material at low price now, downstream smelters show low interest in resupplying stocks. APT manufacturers wait and see on the whole.

In tungsten powder market, downstream alloys manufacturers’ willingness to purchase reduces, and the actual enquiry and orders in the market are rare. The latter market trend remains unknown, so most manufacturers are more cautious on their operations.

Comprehensive analysis: The whole tungsten market lacks activeness, tungsten enterprises are caught in heavy wait-and-see atmosphere, and the end demand is still difficult to improve. Taken together, tungsten market will continue to remain downward trend. 

Price of tungsten products on Oct. 10, 2017

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