EU Tungsten Prices Have Declined but Slower than China

Since the start of second quarter, EU tungsten prices have declined, but slower than China tungsten prices as deteriorating US-Sino trade relations. Weak demand and oversupply put the burden on the global market.

Price of ammonium paratungstate (APT) erased almost a quarter its value over the same period in China, Argus data shows. China APT prices have fallen by 41.1pct since July last year. European APT prices have slower falls, sliding by 29.4pct.

Because of the tungsten market affected by oversupply and lack of demand from the special alloys industries, cemented carbide and automotive, the prices keep falling. As the top producer in the world, the sharpest decline was showed up in China.

Reference in early 2016, Chinese producers reduce their production to answer the falling prices. Chinese APT prices dropped by 25pct between May and July 2016, but this move resulted in a prices rising in the second half of 2016. In 2019, after Chinese producers cut production, the APT prices might rise again.

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