Weakened Market Dragged Tungsten Ore Prices Down in China

Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten market maintained stability in the last trading week of 2018 ended on December 28 due to the end-of-year trading lull. With the end of holiday of New Year’ Day, raw material manufacturers mainly focus on capital return and replenishment of downstream customers. 

In the tungsten concentrate market, environmental protection policy increasing production costs and cutting output offered support for tungsten ore prices at the bottom. But downstream factories consumed raw materials more slowly, especially when capital was tight and orders were fewer. The weakened market is expected to drag tungsten ore prices down. 

Before the holiday of New Year’ Day, enterprises preferred to move excess inventory and thus ammonium paratungstate (APT) market inquiry decreased. The sales of spot goods became difficulty. APT prices continued to hover around the offer levels of large tungsten enterprises. 

Fewer new increased orders and pressure of funds returned at the end of the year leaded to insufficient stocking of downstream cemented carbide and product companies. Tungsten powder enterprises’ enthusiasm of production and offering were weakened on narrowed profits. In the short term, tungsten powder prices would follow the move in the market.

Prices of tungsten products on Jan. 02, 2019

Picture of tungsten carbide powder 

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