Tungsten Power Price Set to Fall on Sluggish Demand

Analysis of latest tungsten market from Chinatungsten Online: Due to the recovery of mines production in the second quarter, demand growth is lower than capacity release. Most businesses are negative about the outlook and are not active in trading, so domestic tungsten price is continuing its weak trend.

In the tungsten concentrate market, though miners have good expectation for tungsten price under long-term macroeconomic and policies, the imbalance between increasing raw material supply and weak demand raises anxiety. Given that, tungsten ore price may further decline. 65% wolframite concentrate price falls below $17,742/t.

Tungsten raw materials are available in the APT market, but sales are limited due to the sluggish demand. Downstream smelting factories are more bearish on price. As a result, they force price down to replenish. The whole market confidence is weakening and trading enthusiasm is cooling, and thus APT price would continue in the downward trend.

Downstream cemented carbide and product enterprises try to purchase raw materials at a relatively price due to the increase in supply and very little spot business is transacted. Mainstream tungsten power price hovers around $27.9/kg. Considering the limited consumption of tungsten powder manufacturers, the whole trading will not increase.

Prices of tungsten products on Apr. 12, 2018

Picture of tungsten trioxide

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