China Tungsten Price Was Unchanged in Early December on Lackluster Market

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price maintained stability in the week ended on Friday December 4, 2020 as the demand side kept weak with the continued spread of Covid-19 in overseas markets, but firm production costs prevent prices from falling. In the short term, market participants will focus on the new guide prices for this month. 

In the tungsten concentrate market, suppliers were reluctant to sell products at low prices and most transactions were deadlocked at about $13,076.9 per tone; smelting factories in the APT market still held cautious sentiment to prevent risks of price inversion and their psychological prices stood at about $220.8 per mtu with the support of firm production costs. The tungsten powder was in a stalemate affected by low buying appreciate. 

Since the outbreak of coronavirus, China’s import and export of tungsten and molybdenum have been affected by rising international trade protectionism and sluggish demand. In addition, the reduced logistics capacity and the increase in freight costs have also caused some resistance to the industry’s foreign trade. The export data of tungsten raw materials has significantly decreased, and domestic corporate profits suffered further squeeze.

Prices of tungsten products on December 7, 2020

Picture of tungsten trioxide 

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