Supply and Demand Refuse to Budge in Tungsten Market

Analysis of latest tungsten market in China from Chinatungsten Online: Domestic tungsten market continues to be in a stalemate as September, with little on the news or data fronts, and the game in fundamentals. Intertwined bullish and bearish factors make mainstream tungsten product prices hard to market a breakthrough. Affected by the unclear market trend in afternoon market, businesses are cautious, accompanied with poor purchase and sale.

With the falling expectation of new guidance prices, customers in the tungsten concentrate market strongly demand a lower price. Although the supply remains tight and environmental protection inspection offers support to the prices of raw materials, businesses are reluctant to sell their products at low prices. Tungsten concentrate price may decline slightly in the afternoon market.

tungsten powder picture

In APT market, miners keep firm mentality and smelting factories’ purchase of raw materials is relatively tense. Meanwhile, downstream smelting enterprises for raw materials procurement and consumption continue to be weak, enhancing manufacturers’ difficulty in production and quotation. The short-term APT quotation will be weak but stable.

Orders of terminal products are less in the tungsten powder market, and downstream enterprises also have low demand for tungsten powder. Besides, due to the cash flow stress, buyers’ market has not enough powder to purchase raw materials. Tungsten powder manufacturers with depressed mentality lower their quotation.

Taken together, the supply and demand of domestic tungsten market still refuse to budge, quotation of raw materials is not coordinated with the inquiry from downstream procurers. So short-term tungsten product prices will continue the current trend without guidance news showing in the market.

Price of tungsten products on Nov. 09, 2017

tungsten products price picture

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