Xiamen Tungsten Raised APT Bid Price for the Second Half of October

Details: Category: Tungsten's News; Published on Tuesday, 26 October 2021 10:45

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remained stable and firm in the week ended on Friday October 22, 2021 when the market continued to be in a stalemate due to tight supply and relative weak buying appetite of buyers.

On the one hand, the cost of raw and auxiliary materials caused by energy shortage was still high, and the possibility for relief in cold winter was low. Manufacturers have to try to pass on the cost pressure to back-end consumers; on the other hand, boosted by a new round of long-term contract price increases on behalf of companies, traders have slightly increased confidence in supporting the market and take a watchful stance for the performance of buyers in receiving goods.

As of Oct. 22, the tungsten market was mostly traded on rigid demand. Consumption in the downstream terminal sector is affected to a certain extent by the curtailment measures, and the market supply and demand are both weakly contested.

Xiamen Tungsten raised its APT bid price to $308.5/mtu, an increase of $9.0/mtu compared with the first half of October.

Prices of tungsten products on October 25, 2021

APT price image