Tungsten Powder Market Is Weak in China Due to Low Trading Activity of Traders

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices are weak early this week on the whole, waiting for new guide prices from institutions and large tungsten companies. At present, the supply and demand is in a stalemate, market inquiry is not active, and downstream buyers purchase based on what they need. Therefore, tungsten market in early May shows no signs of rise and enterprises face pressure from the demand and capital sides. 

In the tungsten concentrate market, before the second round of environmental protection inspection was officially launched, the production capacity of mines increased compared with the Two Sessions during the beginning of the year, but sellers still have strong rised mentality as the supply remains relatively tight. Traders now take a watchful stance, waiting for the next move in the market.

Xiamen Tungsten’ offer for ammonium paratungstate (APT) was $257.8/mtu, down $3.5/mtu compared with the second half of April. The decline reflects the relative negative sentiment of the market, but actual transaction prices are still in the expected range. Smelting factories remain low operating rate and reduce their inventories as they face pressure of price inversion. In the short term, APT price is expected to be in the downward trend. 

Tungsten powder enterprise face different kinds of capital pressure and have different expectations for the market. Downstream buyers remain weak demand and traders are negative about the outlook. On the whole, the tungsten powder market would continue to remain weak with thin market trading. 

Prices of tungsten products on May 7, 2019

Picture of wolframite ore

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