Tungsten Concentrate Market Stabilized on Continued Spread of COVID-19

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remained stable overall in the week ended on Friday May 28, 2021 as the market was caught in heavy wait-and-see atmosphere. Participants mainly took a watchful stance, waiting for new guidance for the next month. 

The tungsten concentrate market stabilized as consumers remained low buying appetite. However, manufacturers still have strong rised mentality derived from the maintenance of the value of strategic resources, the relief of cost pressures under environmental protection, the concern about inflation caused by the over-issue of currency, and the recovery of the consume in the post-epidemic era and the promotion of new infrastructure to internal demand.

As the raw material side continued to keep firm and downstream market was weak, smelting factories in the ammonium paratungstate (APT) market raised their awareness to avoid the risk of price inversion and price hovered around $263.7/mtu. 

For the tungsten powder market, mainstream offers held about $36.2/kg when most factories wait for the consumption of downstream alloy products. Affected by the continued spread of COVID-19, downstream demand both at home and abroad may continue to be weak.

Prices of tungsten products on May 31, 2021

Picture of tungsten disc 

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