China’s Tungsten Price Remained Weak Due to the Instability of the Epidemic

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price continued to remain weak adjustment in the week ended on Friday, November 19, 2021 due in part to imbalanced relationship between supply and demand. Moreover, the instability of the global epidemic, transportation, management measures, and liquidity has made it difficult to clarify the market outlook.

In the tungsten concentrate market, manufacturers were willing to sell their products, but still not reluctant to sell at low prices with the support of environmental protection and relative tight supply. The price of concentrate declined to below $17,460.3/ton. 

In the APT market, the restoration of energy supply and the fall in the cost of raw and auxiliary materials have weakened the support for product prices. In addition, the price decline of large enterprises' long-term contract orders exceeded industry expectations. The overall market atmosphere was bearish, and the market fell at around $299.5/mtu.

The overseas market was affected by the domestic negative atmosphere, and the willingness to actively purchase has diminished. Inquiry prices have also been reduced to a certain extent. Domestic manufacturers are still cautious in taking orders considering cost and capital pressure.

Prices of tungsten products on November 22, 2021

Picture of tungsten ore 

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