China’s Domestic Tungsten Price Remained Weak in Early November

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price remained weak adjustment in the week ended on Friday, November 05, 2021 affected by the concerns about energy cost adjustments and continued sluggish demand. 

Since October, due to the rising prices of raw and auxiliary materials such as caustic soda and sulfuric acid caused by insufficient energy, as well as the tight supply of grain, oil and vegetables caused by extreme weather, the tungsten market has kept strong driven by the cost side. The price of tungsten concentrate was adjusted from $17,460.3/ton to $18,095.2/ton, an increase of about 3.6%; the price of APT rose from $294.1/mtu to $313.9/mtu, an increase of about 6.7%; the price of tungsten powder increased from $40.6/kg to $42.2/kg, an increase of about 3.9%.

However, as the recent measures to maintain the supply and price stability of coal and other energy resources have achieved initial results, the prices of raw materials have fallen due to fundamental repairs, and the performance of the downstream market has been flat. After all, the fourth quarter of product orders are expected relatively weak according to the traditional market law. The superimposed dual energy consumption control and power curtailment measures have curbed the production activities of ferro-tungsten, alloys and their downstream enterprises to a certain extent. Recently, the market sentiment for tungsten has been slightly sluggish, and traders have increased their profits, leading to slight decline of some market quotations.

Prices of tungsten products on November 8, 2021

Picture of ferro tungsten 

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