Ganzhou Tungsten Association Declined APT Price Sharply for July

Details: Category: Tungsten's News; Published on Wednesday, 10 July 2019 18:01

Analysis of latest tungsten market from Chinatungsten Online

Chinese tungsten prices remained weak adjustment in the mid week Wednesday July 10 affected by the sharp decline in new tungsten forecast prices from Ganzhou Tungsten Association.

It was reported that Ganzhou Tungsten Association (GTA) deceased tungsten concentrate price largely from $14,062.5/t to $10,468.75/t; ammonium paratungstate(APT) price down $60/mtu to $187.2/mtu; medium particle tungsten powder price was $28.2/kg, down $6.3/kg.

On the one hand, some industry participants analyzed that the continuous low price is not simply caused by the imbalance between supply and demand in the market, but more owing to the panic sentiment caused by sharp price decline of mainstream institutions and enterprises. Insiders believed the current fundamentals are actually in a weak equilibrium state under environmental protection checks, output cuts of factories and heavy rains in major tungsten producing areas. Inventories in most factories are consumed. As long as there is a clear signs of bottom out, market prices would be expected to rebound.

On the other hand, some insiders thought the new guide prices of associations are actual the transaction prices and there is already a signal of stability. Now the disadvantages in the market lie in: the smelting capacity needs to be reduced compared to the depressed demand orders; enterprises’ bidding affects the overall transaction focus and traders' trading sentiment; the trading market lacks funds to be adjusted and supported.

Prices of tungsten products on Jul. 10, 2019

APT price image