Chinese Tungsten Market Remained Stable in May

Analysis of latest tungsten market from Chinatungsten Online: Smelting factories keep firm offers with the support of tightening supplies and high production costs due to environmental checks, which offers strong support to tungsten market. 

However, the continuous weak demand makes actual market trading thin. At present, traders are waiting for the new average prices coming from large tungsten enterprisers and the recovery of APT smelter production in Ganzhou.

On the whole, Chinese tungsten market was stable in May. Boosted by firm offers from institutions and large enterprises, businesses remained good mentality and tungsten product prices edged higher earlier May. Under the pressure of downstream demand and raw material market at different paces, some traders made profit-taking.

In mid May, many smelting factories in major tungsten production hub Ganzhou shut down, resulting in the decline in APT market's consumption of raw materials and its ability to supply products for downstream market. The mentality in the industry chain showed different amid tungsten concentrate price became weaker, APT price was strong, tungsten powder price edged higher.

The whole market demand is weak, the time of resuming work of factories is uncertain and traders raise risk awareness. Therefore, the supply and demand is in a stalemate and market trading is hard to increase. At the beginning of June, Chinese tungsten market will still be caught in wait-and-see atmosphere.

Prices of tungsten products on Jun. 04, 2018

Picture of tungsten carbide powder

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