China's Xianglu Tungsten Declined New Offers for Late October Sharply

Analysis of latest tungsten market from Chinatungsten Online

The tungsten prices in China remain weak adjustment early this week when the supply of raw materials increases but the demand side does not become active. In the short term, the whole market is expected to be caught in wait-and-see atmosphere with the support of raw material mining and smelting, environmental protection policy and so on. 

At present, downstream buyers slow down their pace, weakening the confidence of firm markets. Most purchasers try to force prices down, but sellers are reluctant to cut product profits considering stricter environmental protection inspection. So deadlocked supply and demand would continue this week.

China's Xianglu Tungsten released its new offers for the second half of October: wolframite concentrate (WO3≥55%) was quoted at $12,898.6/t, down $1,087/t compared with the first half of this month; scheelite concentrate (WO3≥55%) was quoted at $12,753.6/t, down $1,086.9/t; APT was quoted at $226.8/mtu, down $171.9/mtu.

Prices of tungsten products on Oct. 29, 2019

Picture of blue tungsten oxide

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