China Tungsten Powder Price Stabilized in Late October in Slow Conditions

Analysis of latest tungsten market from Chinatungsten Online

The ammonium metatungstate (APT) and tungsten powder prices in China edged lower in the week ended on Friday October 23, 2020 affected by the decline in new guide prices from tungsten associations. Most purchasers sought lower prices while some traders would like to cut their profits for more sales. In the whole, the tungsten market was weak. 

In the tungsten concentrate market, downstream users remained cautious in inquiry and purchasing as they were not optimistic about the outlook. The liquidity in the market was slow and most market participants took a watchful stance. Concentrate price hovered around at $12,615.4-12,923.1 per tonne. 

In the APT market, the second wave of Covid-19 in European countries and unstable trading environment continued to weaken market confidence. Smelting factories still faced pressure from risk of price inversion and they would not reduce their offers. Most quotations stood at $220.8 per mtu. 

The tungsten powder market was weak under deadlocked supply and demand. Traders were worried about the demand side due to a muted overseas market. Therefore, the market was caught in heavy wait-and-see atmosphere. Powder price lowered down to 30.00 per kilogram with rare transactions concluded.

Prices of tungsten products on October 26, 2020

Picture of tungsten trioxide 

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