China Tungsten Concentrate Market Stabilizes Affected by US Election

Analysis of latest tungsten market from Chinatungsten Online

The ammonium metatungstate (APT) and tungsten carbide powder prices in China maintain stability in late October as the market is still in a stalemate in the weak of persistent weakness in overseas markets. 

China’s Xianglu Tungsten released its new offers for the second half of October: 55% black tungsten concentrate was quoted at $12,769.2 per tone, down $307.7 per tone compared with the first half of this month; 55% scheelite concentrate was quoted at $12,615.4 per tone, seeing a decline of $307.7 per tone; APT was quoted at $221.6 per mtu, a decline of $3.5 per mtu.

The tungsten concentrate market is stable with poor deals and prices of about $12,923 per tone. With the support of high production cost, suppliers are reluctant to sell product at low prices, which is the reason to avoid shape price decline of intermediate goods. However, downstream users still are not active in purchasing. The whole market trading is low. 

The APT and tungsten powder markets also keep stable as there are many uncertain factors affecting the external environment, including depreciation of RMB exchange, Brexit, the US election, the spread of Covid-19, and logistic constrain of various countries under geopolitical risks. In the short term, the market is expected to continue its stability.

Prices of tungsten products on October 28, 2020

tungsten concentrate price image

Picture of tungsten acid 

tungsten acid image

Follow our WeChat to know the latest tungsten price, information and market analysis.