China Tungsten Prices Stabilize in Wake of Low Trading Activity in November

Analysis of latest tungsten market from Chinatungsten Online

The China tungsten prices are unchanged from the previous trading day because weak consumer appetite affects the whole trading atmosphere in the industry. Raw material manufacturers keep low operating rate while smelting factories face great pressure of price inversion on stricter environmental protection and high costs. In the short term, the market is expected to stabilize.

Global Tungsten & Powders' (GTP) vice-president of government affairs and industry liaison, Stacy Garrity, painted a similar picture for the tungsten industry in 2019 and 2020.

With exports and domestic consumption falling, along with a strong currency, a worsening economic outlook and escalation of the US-China trade dispute, tungsten consumption is expected to drop by 20pc in 2019 to 104,815t, she said.

This decline in demand dragged on ammonium paratungstate (APT) spot prices across the international markets. APT fell to a 2.5-year low "but seems to have bottomed out", Garrity said, adding that there could be improvement in 2020.

Prices of tungsten products on Nov. 15, 2019

Picture of tungsten trioxide 

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