China and the US demand decline, tungsten prices continue to fall

As a producer of tungsten carbide tools raw materials prices continued to fall. As an intermediate raw material price index of ammonium paratungstate (APT) the current price of around $ 230 per 10 kilograms, and its recent peak in early 2015 it fell by 25% compared to. The reason is that China and the United States demand growth is weak.

In China, iron ore and other resource prices fell, mining-related demand growth is weak. He said, "The Chinese government this year has yet to tungsten implementation of the national purchasing and storage."

Tungsten is widely used in auto parts processing tools and tunneling equipment and other super-hard tools. In the United States, from the second half of 2014, crude oil prices were low, demand shale gas related tools declined.

In Europe and Japan, although the automotive sector centered tungsten demand held firm, but "due to the bearish market, many companies no longer increase in inventory." Although mainly grown in China, but is expected early in the year the UK will also start production of tungsten. With the increase in the supply of tungsten prices could fall further.


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