Confidence Starts to Recover in Tungsten Market This Week

Analysis of latest tungsten market in China from Chinatungsten Online: Opening this week, quotation in mines rises slightly, boosting market confidence. Sellers start to be reluctant to sell and goods in the spot market become less. While buyers in the downstream market purchase just what the quantity they need, market trading atmosphere in general, wait for the time being.

Small orders were in the majority in the tungsten concentrate market. In the thin market, downstream consumption was disappointed and enterprises purchased cautiously. It was reported that most miners are more willing to maintain high product prices. And since cheap products were not available, trading turned better and prices recovered. In Friday, quotation for 65% wolframite concentrate stood between $15,813 per tonne and $16,124 per tonne.

The guidance prices released last week also showed a negative APT market. Though enterprises have no strong willingness to sale, transaction at high prices were not common, some enterprises even tried to rise product prices. APT enterprises have to, on the one hand, control costs, on the other hand, balance sale prices on the whole, so they suffered very much. The APT price in last Friday stood between $273 per mtu and $279 per mtu.

Tungsten powder market continued the downward trend as demand in downstream market was too weak to support the price. Sellers and buyers were both reluctant to trade. Tungsten powder price declined to $38 per kilogram to $39 per kilogram and medium particle tungsten carbide price declined to $38 per kilogram to $38.8 per kilogram.

Taken together, tungsten market was at the bottom last week and it may stabilize or rise slightly this week. On the one hand, with the continuous decline of price, bearish factors may are basically digested by the market, on the other hand, the policy and macro still support the cost of raw materials, so the price is unlikely to fall again.

Price of tungsten products on Nov. 14, 2017

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