China’s Tungsten Powder Price Declines Due to Weak Demand

Details: Category: Tungsten's News; Published on Monday, 22 November 2021 18:10

Analysis of latest tungsten market from Chinatungsten Online

China’s ferro tungsten and tungsten powder prices continue to decline due to weak support from the cost and great pressure from the demand side. Most participants are waiting for new guide prices from state-owned tungsten companies.

The high-grade tungsten concentrate price is deadlocked at $17,460.3/ton. Traders said that environmental protection regulation, global inflation, logistics blockages, and various emergencies related to trade and weather have put pressure on mine production and stable supply. The pressure on market costs is obvious. Therefore, miners have relatively high capital turnover. Under flexible circumstances, the willingness to reduce prices is not high, but the continuous negative atmosphere on the demand side has caused market confidence to loosen. Before the good news on the market is updated, traders are slightly lacking in stabilizing prices and supporting the market.

The APT price is still showing signs of declining at the position of $301.3/mtu. The sharp drop in the price of large enterprises’ long-term contract prices has caused a certain blow to market confidence. Investment is cautious and many traders consider profit-taking. For the tungsten powder market, it is still weak due to continued weakness in the demand side.

Prices of tungsten products on November 19, 2021

tungsten powder price image