Chinese Spring Festival Helps Tungsten Market Stabilize

Analysis of latest tungsten market in China from Chinatungsten Online: Opening this week, tungsten market in China is in a tepid atmosphere. And with the release of basically unchanged guide prices from large tungsten enterprises, the market now maintains stability. Near the Chinese Spring Festival, the pace of trading slows down and the whole market is dealing with the orders at hand.

Viewing from the supply side, both production capacity of tungsten mines and smelting factories are greatly influenced. Raw material price tends to be stable and market trading is not increased, and thus the supply of raw materials still remains tight.

Quotation for tungsten products is unchanged from the previous trading day. Wolframite concentrate was quoted at $16,899-17,054/t; scheelite concentrate was quoted at $16,589-16,744/t; APT was quoted at $296-297.8/mtu; tungsten carbide powder was quoted at $41-41.9/kg.

In the spot market, tungsten concentrate is concluded with random trade, no matter the trading market or smelting factories keep rational. According to quotation of large tungsten enterprises, wolframite concentrate was quoted at $16,589/t and the current market quotation is also close to the line.

APT supply becomes tight and smelters remain low willingness in selling. The current smelters’ quotation mainly hovers around $297.8/mtu. For smelting factories, their annual selling target is basically finished, so they have no plan to sell when the time production lines are starting to stop.

On the whole, this week is the final time to trade centrally, and the express in the provinces outside Fujian will be influenced by the holiday next week. Chinatungsten forecasts that Chinese tungsten market is entering into the holiday mold and price will stabilize.

Prices of tungsten products on Jan. 24, 2018

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