Outlook for Tungsten Market Remains Unclear

Analysis of latest tungsten market in China from Chinatungsten Online: The guidance prices for the November from large enterprises and institutions are not released. Without clear market trend, market participants have low willingness in trading and most traders operate cautiously. Some manufacturers reducing product prices for more shipments weakens the support of tight supply of raw materials. Taken together, mainstream tungsten product price continues to remain weak adjustment.  

According the research of Chinatungsten Online, the whole tungsten industry is still in a down channel. Many alloy factories in Zhuzhou are sales plummeting amid some of them decrease by half, s small amount of factories even reduce by one-third. Cemented carbide manufacturers said under the season not-want, tungsten product price is hard to rise, and in order to force price down, customers who used high-grade raw materials in the previous expressed that manufacturers can produce products with lower grade raw materials.

The above phenomenon shows that downstream market’s acceptance for raw material price is low. Though the supply on the whole is tight, the continuous uncertain environmental protection policy has limited strength to support the raw material side. Besides, market demand still remains weak. Therefore, the whole situation of domestic tungsten market is still difficult.

Comprehensive analysis: The activity of tungsten market is still in the doldrums, downstream manufacturers’ enthusiasm is low, only a few businesses have tentative inquiry, and the actual turnover is poor. The contradiction between supply and demand constraints price movements and Chinatungsten Online expects that short-term domestic tungsten market will still continue turbulence patterns.

Price of tungsten products on Nov. 03, 2017

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