The price of tungsten rod closed at 414.4 RMB/kg this week and was 3.4 RMB higher than the previous week with a 0.83% uplift. The price has peaked at 416.6 RMB/kg and hit rock bottom at 410.2 RMB/kg. In spite of the rise, the change 

rate is slow keeping within the range from 405 to 420 RMB/kg. According to the current spot market, the domestic tungsten concentrate market remains weak. Despite that the upstream enterprises keep a steady supply, the downstream enterprises have less intention to purchase for the low profit. Demand in Europe and the USA is under the same shrinking condition. The data from Tungsten enterprises in Jiangxi Province indicates that the profit fell 9.2% compared with the same period of the last year and the entire industry is in an adjustment situation. For the forthcoming period, tungsten price will change mainly depending on the industrial efforts to integrate and restrict. It is generally estimated that it will be difficult to activate the market during a short term.

 

 

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