European Tungsten Prices Stabilized Due to Low Consumption

Analysis of latest tungsten market from Chinatungsten Online

European tungsten prices have held steady this month as low consumption offset the bullish impact of rising Chinese domestic prices, but a stalemate is setting in between buyers and sellers, and only changes in demand patterns are likely to break the deadlock.

Argus' assessment for ammonium paratungstate (APT) has remained unchanged through May at $200-215/mtu duty unpaid Rotterdam — up from its lowest level in around 3.5 years of $170-190/t du Rotterdam in September 2019, but down from $268-280/t du Rotterdam in May 2019.

Prices for 65pc min tungsten concentrates have been flat over the past week at $160-170/dmtu in warehouse Rotterdam. Similarly, 75pc min ferro-tungsten prices have remained unmoved week on week at $26.85-27.50/kg du Rotterdam.

The rather flat price environment is largely owing to a lack of spot demand in Europe, as downstream consumer sectors were temporarily shut down amid the Covid-19 pandemic. Tungsten consumption is closely correlated with global economic growth as tungsten carbide, alloy and chemicals are used in the construction, electronics, mining, automotive and petrochemical industries.

Prices of tungsten products on May 27, 2020

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Picture of tungsten trioxide 

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