China’s Xianglu Tungsten Raised Long-term Contract Prices for Late October

Analysis of latest tungsten market from Chinatungsten Online

The ammonium paratungstate (APT) and ferro tungsten prices in the Chinese market continue to keep firm at the end of October because the market is still in a stalemate. 

Regarding the market outlook, there are many uncertain factors in the global trade in the long term, and the market lacks directional expectations. However, they retain confidence in the sustainable development of the tungsten industry on the whole in the context of stable domestic economic growth and the transformation and upgrading of the manufacturing industry. in the short term, industry insiders tend to focus on the pressure on energy supply and raw material costs, as well as repeated epidemics and power curtailment measures on the demand side.

Since the outbreak of the epidemic, the situation of over-issuance of currencies led by the US dollar has been severe, which has promoted a sharp rise in global inflation risks. The demand for economic recovery after the epidemic has been superimposed on loose monetary liquidity, resulting in an imbalance between supply and demand in the energy material market and rising prices. Statistics show that international crude oil prices have risen by more than 60% since the beginning of this year, coal prices have doubled, and natural gas prices in various countries have risen by 150%-600%. The pressure on energy costs has gradually spread to the tungsten industry chain.

Xianglu Tungsten released its long-term contract prices for the second half of October: 55% black tungsten concentrate price was $17,730.2/ton, an increase of $269.8/ton compared with the first of half of this month; 55% scheelite concentrate price was $17,571.4/ton, up $269.8/ton; APT price was $313.3/mtu, an increase of $5.7/mtu from early this month.

Prices of tungsten products on October 28, 2021

Picture of tungsten carbide powder 

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