China Tungsten Price Continues to Keep Firm on February 23, 2021

Details: Category: Tungsten's News; Published on Thursday, 25 February 2021 10:47

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continues to keep firm on February 23, 2021 despite of inactivity in the spot market. However, high production costs, the rise in new average tungsten forecast prices for late February, prices of downstream alloy products and commodity metal prices push market price higher.

Sellers in the tungsten concentrate market have strong rised mentality due to tightening availability of raw materials, and offers rise to $15,079.4/t. The market has price but no sales. The APT market is also seeking for higher offers. Listed tungsten companies raising its offers put pressure on smelting factories to some extent. APT price hovers around $260.1/mtu.

Tungsten powder companies are producing and delivering step by step. The price increase of upstream raw materials and downstream alloy products boosts market confidence and the quotations of powder companies have followed up, reaching the level of $34.9/kg. Alloy companies are relatively cautious as buyers’ acceptance for current product prices is not high, and the export market is still unclear under the epidemic and trade protectionism. Most insiders take a watchful stance.

Prices of tungsten products on February 24, 2021

China tungsten price image