China Tungsten Price Lost Momentum in November after Continued Gains
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- Category: Tungsten's News
- Published on Monday, 23 November 2020 19:18
Analysis of latest tungsten market from Chinatungsten Online
China tungsten price lost momentum in the week ended on Friday November 20, 2020 after continued gains over the past two months, as concentrate sellers cut prices to reduce inventories and lock in profits.
Although the Covid-19 in China has been controlled successfully and economic situation are gradually recovering to a positive state, the instability in the international market, including the coronavirus, economy, trade, and geography, is strong. The industry still expresses concerns about the overseas demand.
Tungsten prices are likely to fall in the short term as destocking by trading firms may increase spot availability and, in turn, push down spot prices. But firm production costs are expected to prevent prices from falling too much. The average production cost for tungsten concentrate is estimated at around $12,923/t at most mining companies in China.
Prices of tungsten products on November 23, 2020
Picture of blue tungsten oxide
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