Quotation Was Raised in Tungsten Powder Market

Analysis of latest tungsten market in China from Chinatungsten Online: Last week, affected by the increase of guide prices of large tungsten enterprises, market quotation became clear, enquiry and transactions in the tungsten concentrate market increased, though supply of tungsten ore remained tight. 

Traders, downstream smelting enterprises and manufacturers gradually accepted high prices of raw materials as low-price of products were not available in the market. As of last Friday, quotation for 55% wolframite concentrate in Hunan Jiangxi provinces was $16,744/t.

Ferrotungsten manufacturers were in a difficult period, some of them even stopped production. Raw material prices were on the high side while downstream demand was weak. Under the deadlocked market, operating rate decreased as manufacturers were hard to accept high raw material prices. W70 ferrotungsten price was $25,581-26,047/t and W70 ferrotungsten price was $26,202-26,667/t.

APT price edged higher last week, from $290.8-294.3/mtu rising to $294.3-297.4/mtu, and downstream customers started to purchase at high prices. As of last Friday, mainstream transaction price in the APT market was $296/mtu. But it was hard to conclude a deal when price was higher than $297.4/mtu. Raw material price was rising slowly and APT price may rise slightly.

In the tungsten powder market, quotation in Jiangxi, Sichuan, Hunan, Guangdong and other places was raised, but transactions were less when price was higher than $41.4/kg, mainly concentrating on $40.9-41.4/kg. The late market trend of raw material remained unknown, so manufacturers only received short-term orders. as of last Friday, tungsten powder price was $40.9-41.6.kg and medium particle tungsten carbide price was $40.5-41.1/kg.

Taken together, stocks in the tungsten ore, traders, smelting factories remain at low levels at present, many of them even no stocks. During the price shocks in the earlier stage, stocks were been consumed, at that time, the rise in price will be great help for boosting market confidence. In the short term, tungsten price is likely to rise and the tension of funds at the year-end would not be ignored.

Prices of tungsten products on Dec. 11, 2017

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