Tungsten Concentrate Prices Stabilized, but Tended to Move Lower

Details: Category: Tungsten's News; Published on Monday, 29 October 2018 18:37

Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten prices remained weak adjustment in the week to Friday October 26. The new tungsten forecast prices released in last Monday were unchanged, and fewer new increased orders in downstream factories also weakened market confidence. Although costs supported the stabilization in tungsten raw material prices, trading prices moved lower.

With the supports from supply and cost sides, tungsten concentrate prices kept stable. While weak buying interests of downstream market reduced traders’ strong rised mentality. Recently, most insiders have been focused on environmental protection and new forecast prices from institutions and large tungsten enterprises. If the supply and demand continued to be pressed, prices may drop.

Affected by wait-and-see attitude of downstream factories, smelting factories became difficult in sales. Transaction prices of ammonium metatungstate hovered about $278/mtu, with less trading volume. Manufacturers with relatively pessimists tended to trade at the bottom of range.

Downstream alloy and product enterprises faced pressure in the tungsten powder market as market participants were not high enthusiasm to enter the market lacking demand supports at the bottom. Manufacturers in the raw material side tried to raise offer levels, but the whole industry is in the offer season. On the whole, tungsten powder prices will continue its stabilization.

Prices of tungsten products on Oct. 29, 2018

tungsten prices picture