China’s Tungsten Concentrate Market Maintains Stability in Late October

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price is mainly stabilized on October 20, 2021. Based on the expectation that the short-term tight supply and firm offers, the industry generally believes the tungsten market is likely to stabilize in the fourth quarter, and it is not ruled out that small price adjustments caused by price fluctuations of raw and auxiliary materials or other news, but there is limited room for market adjustments. 

The tungsten concentrate market maintains stability. Under the background of energy transition, and global inflation trend, the industry believes that the non-ferrous metal industry is likely to be resonated, even if the financial attributes of tungsten products are relatively low. However, due to the high cost of raw materials, the market is more likely to be stable in the short-term or to rise slightly. 

The APT market also stabilizes despite of increased production capacity, but the profit margin is not good. The recent increase in the cost of processing on behalf of the company has intensified the pressure on enterprises to purchase and sell. The industry believes that the prices of chemical raw materials such as caustic soda in the market may undergo a rational correction after the rapid rise, but it is difficult to return to the initial point. Therefore, the overall cost base of the market is relatively high. Manufacturers may appropriately reduce and suspend production and make adjustments.

The tungsten powder market is in a stalemate mainly due to the fact that raw material supply chain problems have become more severe in the "cold winter" and market cost pressures have become prominent. Due to congestion, extreme weather and other factors, the market spot liquidity is not good, traders are mainly rational, and there are many people think the market will keep stable in the short term.

Prices of tungsten products on October 21, 2021

Picture of tungsten acid 

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