China Tungsten Price Dropped in the Middle of March after a Steadily Rise

Details: Category: Tungsten's News; Published on Thursday, 18 March 2021 10:15

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price started to decline in the week ended on Friday March 12, 2021 after hitting early two-year highs in February amid tight supply of raw materials and a pick-up in end-user demand.

The prices of raw materials have move up by 10% since participants come back to work after the holiday of Spring Festival over Feb. 11-17. However, the support from the demand side is limited. Therefore, most insiders through a rational price decline will benefit the market and can promote the healthy and sustainable development of the industry. Under the influence of the environment such as popularization of vaccines, contained epidemic, monetary easing, and the recovery of manufacturing industry, participants have good expectation for the outlook.

China’s Xianglu Tungsten released its offers for the first half of March: 55% black tungsten concentrate price was $15,238.1/t, up $793.7/t compared to the second half of February; 55% scheelite concentrate price was $15,079.4/t, up $793.7/t; APT price was $262.2/mtu, an increase of $11.1/mtu from late February.

Prices of tungsten products on March 15, 2021

China tungsten price image