Zhangyuan Tungsten Declined New Offer Levels for the Second Half of April

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices continued to remain weak adjustment as new guide prices from large tungsten companies declined slightly, showing negative sentiment of market participants. Under the thin market trading, the market now is caught in heavy wait-and-see atmosphere. 

Zhangyuan Tungsten released its offer levels for the second half of April on Monday: wolframite concentrate (WO3≥65%) was quoted at $14,687.5/t, down $78.1/t from the first half of April; scheelite concentrate was quoted at $14,453.1/t, down $78.1/t; ammonium paratungstate (APT) was quoted at $257.8/mtu, down $1.8/mtu.

In the tungsten concentrate market, supported by environmental protection inspection and strong rised mentality of sellers, most miners tend to stabilize current offer levels, so low-price resources reduce. But downstream factories do not accept high-price raw materials. Given that, high grade tungsten concentrate price hovers around $14,843.8/t. 

Considering continued deadlocked supply and demand in the APT market, trading activity shows no signs of improve. And affected by lowered new offer levels of listed companies, traders’ confidence is further weakened. Most manufacturers wait and see at present. 

For the tungsten powder market, product prices do not benefit from the fundamental factors of supply and demand, and the market still has a lot of bearish atmosphere. The focus of the transaction is suppressed by the competitive atmosphere of the companies in the market, but the low price advantage does not drive the release of the demand. The downstream inquiries are slow and cautious, and the price of tungsten powder is steadily declining.

Prices of tungsten products on Apr. 24, 2019

Picture of tungsten powder 

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