Tungsten Powder Enterprises Wait for Next Move in Raw Material Market

Analysis of latest tungsten market from ChinaTungsten Online

China tungsten prices remained weak adjustment in the week to Friday November 9. The new round of guide prices from institutions and large enterprises edged lower earlier in last week, which pressed market confidence to some extent, although they were basically in line with market expectations. Supported by supply and cost sides, traders were reluctant to cut profits, and the supply and demand will continue its deadlocked situation. 

In the tungsten concentrate market, downstream customers were not active in purchasing products, weakening market confidence. Most miners were unwilling to drop their offer levels because costs of raw materials supported tungsten concentrate prices and output also was limited. 

Large ammonium metatungstate enterprises stabilized their offer levels at $278.2/mtu earlier in this month, showing a conservative attitude towards the market. In addition, the weakness in market demand and customers forcing prices down lowered market transaction prices. Most insiders now are cautions.

Terminal customers have been unwilling to purchase since the second half of November in the tungsten power market. And smelting factories were more difficult to produce under Chinese environmental protection. Tungsten powder enterprises mainly relied on old customers on continued weak demand, waiting the next move in tungsten raw material market.

Prices of tungsten products on Nov. 12, 2018

Picture of tungsten powder

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