Listing Tungsten Enterprise Lowered Offer Levels for Late November

Analysis of latest tungsten market from ChinaTungsten Online

It was reported that a listing tungsten enterprises in Guangdong released its offer levels for the second half of November. wolframite concentrate was quoted at $15,461.5/t, down $76.9/t compared with last month; scheelite concentrate was quoted at $15,307.7/t, down $76.9/t from last month; ammonium paratungstate (APT) was quoted at $276.4/mtu, down $6.1/mtu. The offer levels are basically in line with current market trend. 

In the tungsten concentrate market, the relationship between supply and demand greatly affects market trend. On the one hand, costs support raw material side and miners are reluctant to sell, with limited production; on the other hand, buyers remain low buying interests and smelting factories force prices down. Under the current deadlocked situation, sale pressure increases and transaction prices tend to be weak. 

The weakness in demand results in thin trading in raw material market and smelting factories are in a stalemate in the APT market. Traders seek to more transactions for larger space in negotiating, but profit margin of the factory is also narrowing. Some selling prices now drop away from purchasing prices and thus trading volumes seem to be low. 

Terminal enterprises receive fewer new orders, maintaining a rational and cautious attitude toward purchasing tungsten powders, even though prices decline. Affected by that, tungsten powder companies turn negative on the later market. Prices are expected to decline on the pressure of sales and capital.

Prices of tungsten products on Nov. 28, 2018

Picture of tungsten carbide powder

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