China Tungsten Price Remains Stable on Weak Demand in Late August

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remains stable on the weakness both on the demand and supply sides. Now some traders are optimistic about the outlook with the support from the cost and supply sides while others still worry about the spread of coronavirus, geopolitical risks and the recovery in the industry around the world. 

In the tungsten concentrate market, sellers are reluctant to sell products and most offers stabilize at around $12,500.00 per tone, but actual trading is limited. Insiders believe that with the effective control in the Covid-19, domestic economy is recovering and the new infrastructure projects are expected to benefit the development of tungsten market. In addition, with the consumption of mining resources, the non-renewable strategic resource attributes of tungsten metal will become more prominent.

In the APT market, high temperature and other seasonal factors affect the logistic, plus with smelting factories keep low operating rate to avoid risk of price inversion, the supply in the sport market is limited, supporting the cost side. Offers were raised to the level of $212.7 per mtu.

Prices of tungsten products on August 21, 2020

Picture of tungsten powder 

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