Tungsten Price Is in an Upward Trend, Limited by Weak Demand

Analysis of latest tungsten market in China from Chinatungsten Online: Tungsten price continues to be in an upward trend, with limited price range, which is more in line with the current market situation. The productivity of raw material reduces due to the climate while corresponding demand keeps delicate. The deadlocked relationship between supply and demand would be unable to meet the fast pace of price increase.

Market sentiment is stable for now, especially large tungsten enterprises that have the right to speed in the market have good attitude towards market prices and guide prices. Although raw material remains tight, smelting factories and trader companies have not raised their quotations.

Quotations for tungsten products were unchanged. Wolframite concentrate was quoted at $17,054-17,364/t, 55% wolframite concentrate was quoted at $16,744-17,054/t. scheelite concentrate was quoted at $16,744-17,054/t, and 55% scheelite concentrate was quoted at $16,434-16,744/t. APT was quoted at $296-299.6/mtu. Medium particle tungsten carbide was quoted at $40.6-41.4/kg.

There are two different kinds of attitude of smelting plants in the APT market: the first one is when price is lower than their expected level, they don’t want to sell, and the other one is stop quotation. Under the double pressure of higher raw material prices and processing charges, it is hard for smelting plants to sell their products at low price. But the previous overstocks would be sold at price lowering mainstream market price.

It is reported that repayment, payment for goods and other pressures will limited the rise in price. For the news, Chinatungsten Online thinks that the whole market trend will not be changed, even though outflow of resources may affect market price. In the short term, tungsten price will continue to rise, but enterprises still need to treat the market cautiously.

Prices of tungsten products on Dec. 12, 2017

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