Tungsten Price Starts to Show Signs of Stabilization

Analysis of latest tungsten market in China from Chinatungsten Online: Domestic prices of tungsten raw materials have started to rebound since the middle of November. But considering the limited consumption of terminal products, most manufacturers still remain low level of stocks and downstream customers are reluctant to purchase because of high prices. Tungsten price gradually stabilizes at present.

Quotations for tungsten products were unchanged. wolframite concentrate was quoted at $16,899-17,209/t, $1,085/t higher than early month; scheelite concentrate was quoted at $16,589-16,899/t; APT was quoted at $292-295/mtu, $19/mtu higher than early month.

The price of high-grade wolframite concentrate and APT rises around 8 percent compared with November 10, according to figures shown from Chinatungsten Online. Some insiders said that traders intend to sell their products due to the rally in price, but downstream procurements are inadequate, so raw material price has not enough upside momentum. The recent tungsten market is expected to be weak.

tungsten powder picture

In the tungsten concentrate market, low price of resources strongly promotes the rise in price of tungsten ore. Miners insist to quote at high price and are not willing to sell their products at low price. In the downstream market, mentality “Rising and Falling” of customers actives the market atmosphere. But the demand in the terminal market is still weak. As a result, the quotation of alloy enterprises is hard to follow up the high raw material price, and smelting plants are rational on purchasing raw material. The whole market is running according to actual needs.

Taken together, tungsten price has been stabilized on the whole with limited space of decline. Chinatungsten Online forecasts that tungsten market may be caught in wait-and-see atmosphere in the near future and the attitude of large enterprises still is very important to the market. At present, most tungsten enterprises hope the product prices stabilize. 

Price of tungsten products on Nov. 24, 2017

tungsten products price picture

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