China Tungsten Price Showed Signs of Bottoming out in Late April

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price showed signs of bottoming out in the week ended on Friday April 24, 2020 with the support of high cost of raw materials. But as the COVID-19 is continuing spread in foreign countries, insiders are still worrying about the outlook. Most market participants held a watchful stance. 

In the tungsten concentrate market, affected by the cost pressure and the low resource consumption, the holders increase the raised mentality and actively slow down production to repair the relationship between supply and demand. However, due to the serious international epidemic situation, the demand side is still sluggish. The price of tungsten concentrate hovers at the level of $11,029.4/t. 

In the APT market, high raw material prices support the confidence of smelting manufacturers, and the previous downturn made factories face pressure of price inversion. Manufacturers slow down the trading and have strong sentiment of bottoming out. Prices of products stand at around $199.4/mtu. 

Prices of tungsten products on Apr. 26, 2020

Picture of APT

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