China Tungsten Price Stabilizes on Low Buying Appetite of Buyers

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price remains stable early in this week as the market is caught in wait-and-see atmosphere. On the one hand, recent environmental checks have greatly affected the production and cost of raw materials; on the other hand, consumption seems not recovered when the export market remains uncertain. 

Due to tightening availability of raw materials, concentrate sellers are reluctant to sell their products now, expecting for higher prices. While buyers are cautious. Mainstream offer is about 15,238.1/tone. In the APT market, smelting factories are worried about the risk of price inversion and thus mainly take a watchful stance. In the tungsten powder market, downstream alloy consumers are not active, waiting for the next move in the market. 

The global GDP growth rate in 2021 and 2022 will be 6% and 4.4%, respectively, 0.5 and 0.2 percentage points higher than the forecast at the beginning of the year, according to the World Economic Outlook Report released by the International Monetary Fund last week. It was estimated that China's economic growth rate in 2021 is expected to be 8.4%, an increase of 0.3 percentage points from the forecast at the beginning of the year.

Prices of tungsten products on April 13, 2021

Picture of violet tungsten oxide

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