China Tungsten Price Remained Stable in Late January 2021

Details: Category: Tungsten's News; Published on Wednesday, 27 January 2021 09:52

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remained stable in the week ended on Friday January 22, 2021 with the support of cost and supply side. Meanwhile, the rise in new average tungsten forecast prices also boosted market confidence. However, stocking was reducing due to continued spread of Covid-19 and the approaching of Chinese Spring Festival.

The tungsten concentrate market was tight in spot sources and high in product prices. Mining companies reduced production as some of them started to stop production to undergo repair and concentrate price rose to $14,285.7/t.

APT market was caught in wait-and-see atmosphere when raw material cost was high but downstream consumers could not accept high-price products. The whole market trading was limited and offers hovered around $243.9/mtu.

Tungsten powder market was stable with limited new orders concluded. Traders were cautious, watching the international epidemic and economic situation as well as domestic consumption activities in areas such as new infrastructure. There is some pressure on trading and logistics before the Spring Festival. Tungsten powder price will be stabilized at $33.3 per kilogram in the short term.

Prices of tungsten products on January 25, 2021

China tungsten price image