Tungsten Product Prices Are Stable with Good Momentum

Analysis of latest tungsten market in China from Chinatungsten Online: Domestic tungsten market maintains stable operation. As institutions and large tungsten enterprises have adjusted guidance prices upward and the production in the main tungsten ores is limited, enquiry from downstream enterprises increases. Mainstream tungsten product prices are stable with good momentum, but market demand needs to be improved.

tungsten powder picture

In the tungsten concentrate market, affected by stricter environmental protection, high production costs, and bullish expectations of large enterprises, raw material prices get strong support at the bottom. Tungsten ore enterprises think the late product prices will rise and then they become more reluctant to sell. The current quotation for 65% wolframite concentrate is closed to $17,054/t.

Low-price resources are rare in the APT market and smelting factories follow raw material prices to raise their quotations. Downstream customers are generally bullish on market price, so they are willing to stock up before the holiday. However, limited by terminal demand, trade companies remain low willingness of purchasing and actual transactions are mainly on rigid demands. Considering deadlocked supply and demand, and low willingness of selling of APT manufacturers, APT price will stabilize in the short term.

Less market funds flow into the market and terminal market has not great demand for raw material toward the end of year. Besides, raw material will be hard to get when market price rises. Therefore, orders in the tungsten powder market will mainly reflect on rigid transactions. But considering the rise of new guidance prices, market confidence is supported, and high-grade tungsten powder price will be close to $41/kg.

Taken together, the current market trend will continue in the short term as newly increased spot raw materials may reduce. But tungsten market will not fully become sellers’ market, and insiders still need to concern the latest news of downstream demand and market funds.

Price of tungsten products on Dec. 07, 2017

tungsten products price picture

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