China’s Domestic Tungsten Price Was in the Downward Trend in Early November

Details: Category: Tungsten's News; Published on Wednesday, 17 November 2021 10:24

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price was in the downward trend in the week ended on Friday, November 12, 2021 affected by sluggish demand and increased supply of raw materials. The decline in new guide prices for the first half of this month also weakened market confidence.

Tungsten concentrate price stabilized at $17,619/ton, a decline of 1.77 percent compared with last Friday (Nov. 5). Purchasers were not willing to stock up and orders in the market were limited. While traders took profit-taking considering the cost under environmental protection inspection.

APT price was deadlocked at $304.9/mtu, a 1.73% correction from last Friday. The main factor supporting the upward adjustment in October was the high cost of subcontracting processing caused by the increase in the price of raw and auxiliary materials. However, as the energy supply stabilizes, the above cost factors have fallen to a certain extent. In addition, the demand side that the market continues to pay attention to releases a negative atmosphere.

Tungsten powder price was around $41.7 /kg, down about 0.75% from last Friday. Powder manufacturers received few inquiries or orders from both domestic and overseas markets. The overall market liquidity was insufficient.

Prices of tungsten products on November 15, 2021

APT price image