China’s Tungsten Concentrate Price Continued to Strengthen in Late November

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten concentrate price continued to strengthen in the week ended on Friday November 27, 2020 amid tight supply from mining companies. The price increases for the raw material have also triggered higher offers for ammonium paratungstate (APT) but downstream tungsten powder and alloy consumers are resisting them amid weak economic conditions, resulting in a stalemate.

Major tungsten export firms have secured limited fresh orders since May, as the Covid-19 pandemic continues to delay industrial production restarts outside of China. Overseas buyers have been more cautious about making purchases because of uncertainty created by the second wave of Covid-19. 

China exported 11,730t tones of tungsten products during January-July, down by 31.74pc on the year, according to official customs data. Exports to Japan over January-July fell by 42pc from the year-earlier period, with shipments to Europe and the US down by 32pc and by 26pc on the year, respectively.

Prices of tungsten products on November 30, 2020

Picture of blue tungsten oxide 

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