China Tungsten Market Is Dard to Rebound on Weak Downstream Demand

Analysis of latest tungsten market from Chinatungsten Online

China tungsten market is difficult to find a strong base to start a new round of price increase. On the one hand, the continued spread of Covid-19, geopolitical risk and other uncertain factors weaken market confidence all over the world; on the other hand, the new round of average tungsten forecast prices were declined lightly in this month. 

China’s Xiamen Tungsten released its offer for ammonium paratungstate (APT) for the first half of November at $216.4 per mtu, down $4.3 per mtu from the second half of October.

Chinese APT producers have been in a difficult situation in recent months, dealing with high raw material prices, weak downstream demand and a sluggish export market. Indeed, several APT refineries in the country either suspended operations or cut output as a result to reduce their pressure. 

The tungsten concentrate and powder markets also stabilize with heavy wait-and-see atmosphere. No deals were reported. At present, insiders are waiting for the result of US election.

Prices of tungsten products on November 4, 2020

Picture of tungsten trioxide 

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