Spot Supply Remained Tight in Tungsten Concentrate Market

Analysis of latest tungsten market in China from Chinatungsten Online: In tungsten concentrate market last week, spot supply remained tight, buyers and sellers had low willingness to trade and large quantities of trading was rarely seen. Stocks in the tungsten ore were in low level while traders were reluctant to sell without the pressure of stocks. Moreover, purchasers were active to enquiry. In the market, low price of goods were less and the quotation became stable amid prices of 65% wolframite concentrate were $16,589-16,899/t.

Orders were less in the terminal market, downstream steel mills and buyers returned to normal without large stockpiles. Under the limited demand of ferrotungsten, mainstream ferrotungsten enterprises mainly exported their products to foreign countries. W70 ferrotungsten price were $25,581-26,046/t and W80 ferrotungsten were $26,202-26,667/t.

APT market was thin, but with the support of raw materials, prices of some enterprises returned to stability. Affected by environmental protection policy and large enterprises in a push to lower prices in the earlier stage, tungsten enterprises were cautious about one-sided price hike though costs stated to increase. Tungsten prices in the current market are hard to have a big rebound, but low price of trading is reduced apparently. As of last Friday, APT prices were $290.8-294.3/mtu.

In the tungsten powder market, domestic demand was weak but costs remained high. Entering the winter, some areas faced large pressure from environmental protection, deep machining, alloy and other downstream enterprises were unstable in production and operation, with low demand for tungsten powder. Therefore, the current tungsten powder market faces greater pressure. As of last Friday, tungsten powder was $40-40.6/kg.

Taken together, terminal enterprises still replenished stocks according to their needs, tungsten ore traders undersold in a small quantity, but basically digested. The weak demand in the market further limited the rebound of price. In the December, the late market price remains to be seen. The new round of guidance prices from Ganzhou Tungsten Association and large tungsten enterprises will be released this week, which will make the market more clear. Risk and opportunity coexist in the December on the whole.

Price of tungsten products on Dec. 04, 2017

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