China Tungsten Price Declined in the Middle of March as Sellers Considered Profit-taking

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price starts to decline in the week began on Monday March 15, 2021 because some raw material sellers consider profit-taking. Meanwhile, downstream buyers demand lower product offers. Market transactions are concluded at low level. 

Tungsten concentrate price declined to $15,079.4/t, ammonium metatungstate (APT) price dropped to $258.3/mtu and tungsten powder price stabilized at about $35.6/kg. 

Some businesses thought this round of price correction is of benefit to reduce market risks and keep firm offers of late market. under the circumstances of economy recovery and loose monetary policy, it is likely that production cost and demand will increase.

However, some traders were worried about the late market considering current coronavirus situation, economic and trade conflicts. In addition, although the high-end alloy product market is relatively active and has high profit margins, the basic alloy product market still has the risk of oversupply. Downstream users' ability to accept high-level resources is limited, and the upward trend of the market is not easy to sustain.

Prices of tungsten products on March 18, 2021

China tungsten price image

Picture of tungsten acid 

tungsten acid image

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