Ferro Tungsten Price Stabilizes on Weak Consumer Demand Outside China

Analysis of latest tungsten market from Chinatungsten Online

The tungsten carbide powder and ferro tungsten prices in China remain stable on January 28, 2021. Although the supply of raw materials is tight with the approaching of Chinese Spring Festival, the consumer demand outside China remains weak. 

On the supply side, primary tungsten concentrates are in short supply after Chinese suppliers curtailed or halted production at the end of the year. China's decision to cut production in the second half of 2020 was driven by oversupply, with supply then further tightened by Covid-19 lockdown restrictions, heavy rainfall and declining ore grades.

On the demand side, China has raised its export price amid stronger domestic demand and the dollar's depreciation against the yuan while buyers in overseas markets reduce their purchasing plans considering soaring freight costs and logistical issues. Some of them are more willing to pay a slight premium to domestic suppliers in order to ensure delivery without delay. 

Prices of tungsten products on January 29, 2021

Picture of tungsten trioxide 

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