Tungsten Price Stabilized in Chinese market, Lacking Supports for Demand

Analysis of latest tungsten market from China Tungsten Online

Last week, Chinese tungsten price has stabilized and operated. Due to the lack of effective support from the supply and demand side, the raw material market is rising and the market lacks continuity. At present, the cautious wait-and-see attitude dominates the market, and the tungsten product price is mainly consolidating. The environmental protection situation and the upcoming institutions are waiting to be announced. 

In the tungsten concentrate market, under the environmental protection situation, the mine inventory pressure is not high, and the cost performance is firm, supporting the commodity holder's quite rising mentality, 65 percent of the black tungsten concentrate reached 103,000 Yuan per ton this week. The market is cheaper and more expensive, but high-priced transactions are also difficult. Due to the lack of order volume support in the downstream, the purchasing enthusiasm for raw materials is also very general. The light transaction atmosphere in the market affects the price of tungsten concentrates at a high level.

In the APT market, the pressure on raw material costs has affected the low-price intention of manufacturers. The APT price is close to the level of 163,000 Yuan per ton this week. However, the actual trading activity of the market is getting colder, and the downstream is generally cautious about high-priced raw materials. Procurement enthusiasm is generally, the field is mostly just inquiries, and the higher quotation is subject to actual transaction order verification.

In the tungsten powder market, positive terminal demand is difficult to find and frustrate the market confidence. The raw material market transmission is still not recognized by the downstream. The market cost and the shipping pressure coexist, and the price of tungsten powder is consolidating at the level of 253 Yuan per kg. At present, the overall operating rate of downstream smelting enterprises is relatively low, market sales are relatively light, and transactions are concentrated on low-cost resources.

In terms of news, on October 15th, the Office of the Leading Group for Reconstructing Environmental Issues in Hunan Province was convened to welcome the Central Environmental Protection Inspector to look back at the “Review” special verification mobilization meeting. The Hunan Provincial Reform Office plans to dispatch 14 verification teams to conduct on-site verification of the feedback of the central environmental protection inspectors and the handling of letters and visits.

Prices of tungsten products on Oct. 22, 2018

Picture of tungsten powder

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >