Tungsten Market Off Season Ended, Indicative Price Coming Soon

Tungsten market off season ended last week, the flowing trend is unobvious, market is in an intensive situation. Demand still doesn’t increase. Tungsten market volume of business keeps decrease, most enterprises hold wait and see attitude for tungsten market.

Tungsten market not only needs demand but also stability of market. Last week, some enterprises sell the price below market level which is challenging the confidence of market. However, volume of business is still small.

Last week, tungsten products price changes originates from ammonium paratungstate, the mainstream enterprises maintain stable quotation. Some large metallurgy factories say that due to the cost of raw material, ammonium paratungstate price won’t decrease in the next few weeks. APT quotation stays 105~107 thousand RMB/ton. Some other enterprises show that they have advantages both in raw material cost and manufacturing cost. In order to sell the product intiative, quotation maintains at 103~105 RMB/ton, but the selling amount is negative.

Today the indicative price by Ganzhou Tungsten Industry Association, China Minmetal and Jiangxi Rare Earth and Rare Metals Tungsten Group Corporation will come out. It will indicate market price and keep the mainstream stay positive. The indicative price is mainly based on support market confidence, it will be a bit higher than spot market.

The future market trend will greatly depend on this week. It will either turn splendid or fade away. Break weak balance of market is easy, but there is no one who will intervene market balance. Although supply and demand are the most important factors, tungsten price is already below the cost level which is unchangeable. We predict that in short times market will turns weaker and stay stable in the whole as a whole. Dynamic of large enterprises is a key to market, once the stimulus appears, to promote and develop the market is not difficult.

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