Quiet Tungsten Market, Slower Decline of Price

Analysis of latest tungsten market in China from Chinatungsten Online: The average prices and long-term negotiated prices released on Monday that are close to the market price are the summary of market trend in October, which cannot be used as a guide for the afternoon market. But the decline also weakens market confidence, and the consensus is quite bearish. In the short run, tungsten price will continue downward trend.

The heating season is approaching and pollution control will be carried out fast, which will further limit the production of mines. With the support of raw material shortage, most miners have tough attitude on keeping high product prices, so prices of tungsten raw materials will not decline sharply. Meanwhile, downstream smelting factories have not enough powder to purchase raw materials, so goods in the market are mainly on bulk cargo.

Downstream manufacturers without enough funds demand a lower price, and APT factories having low products sales are not interested in purchasing raw materials. The quotation for APT is deadlocked.

Fewer orders in the terminal market, fierce competition among manufacturers, and enterprises shift their capital pressure. Therefore, tungsten powder price is likely to decline. The quotation of medium particle tungsten carbide mainly concentrates on $38 per kilogram to $38.45 per kilogram.

Comprehensive analysis: the decline of price slows down, although the whole trend still shows downward trend. Large tungsten enterprises who have great impact on prices adopt conservative long-term negotiated prices that are important to tungsten products prices, hurting market confidence. With the release of guidance prices, the trend for afternoon market is clear.

Price of tungsten products on Nov. 08, 2017

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