China Tungsten Powder Market Is Weak on Unknown Result of US Presidential Election

Analysis of latest tungsten market from Chinatungsten Online

China ammonium metatungstate (APT) and tungsten carbide powder prices continue to be in the upward trend in early November when the US presidential election is the focus of the world. The result remains unknown by now because not enough votes have been counted yet for either Donald Trump or Joe Biden to claim victory.

With the recovery of China’s economy and manufacturing industry, the production and consumption of tungsten raw materials are gradually recovering, but the export of downstream products such as tungsten carbide and alloys is still facing difficulties. Risks such as emerging trade protectionism in various countries have led to a reduction in external orders and sudden pressure on raw material sales. Market confidence is weak and insiders take a watchful stance.

Inquiry for tungsten concentrate hovers around $12,307.7 per tone, which shows difference with suppliers’ offer of $12,769.2 per tone. No deals were reported and high production cost supports sellers’ firm offers. Quotations in the APT market are basically in line with new average tungsten forecast prices from listed companies. Smelting factories face great pressure of price inversion with low operating rate. As for the tungsten powder market, prices decline below $30 per kilogram and traders receive few inquiries from overseas markets. 

Prices of tungsten products on November 5, 2020

Picture of tungsten powder 

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