Tungsten Market in China Is Caught in Wait-and-See Atmosphere

Analysis of latest tungsten market in China from Chinatungsten Online: Although the operating rate of mines maintains at a low level due to environmental protection policy and the coming of Chinese Spring Festival, sellers raise the willingness in selling. While terminal demand is not improved, tungsten market in China is caught in wait-and-see atmosphere.

Affected by the sluggish downstream demand, trading in the tungsten concentrate market does not increase. Traders and downstream smelting factories produce their products mainly depending on orders, but sellers hope to reduce their stocks. As a result, the supply and demand is in a stalemate.

In the APT market, raw material supply increases, but customers with cautious mentality are waiting and seeing. Therefore, market price further declines, some of transaction price of APT even fall below $297.80/mtu.

Tungsten powder trading is in a stalemate without the support of raw material market. Downstream alloy and products enterprises lower their price when enquiry and do not intend to stock up at present. Some traders are still bullish on the supply and demand. Tungsten powder price will stabilize on the whole.

Taken together, the terminal market is now the key point for tungsten market in China. Facing the quiet market trading, tungsten enterprises are more cautious in their operations. Tungsten raw material price would move in a narrow range.

Prices of tungsten products on Jan. 18, 2018

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