Tungsten Market in the First Half of Year 2017

Tungsten market in the first half of year 2017 shows tungsten market is in process of recovery, the whole industry is stable, price is rising slightly.

Tungsten Market Recovery
In the first half of year 2017, tungsten industry is still full of news and surprises. Although big events such as national reserve or large enterprises control production didn’t happen, environmental inspection is still the key fact which affects price. Tungsten market in 2015 is like diving, in 2016 is turmoil, in the first half of year 2017 it is more stable and price is recovery gradually. Tungsten price reaches the new height since it falls to the bottom in 2015. Tungsten concentrate price reaches RMB 80,000/ton. The two rotations of price increase and decrease is resulted from Spring Festival and environmental inspection. Tungsten concentrate average price exceeds RMB 78,000/ton, which increases RMB9000/ton compared to RMB 69,000/ton in 2016.

Tungsten Price Rises Overall
In January, tungsten market is stable after Spring Festival. It fluctuates in February and March. Due to slow restoring production of tungsten concentrate and trade fund stockpile, tungsten price rises slightly. At the same time, lot of cash commodity flow into market and results in price decrease. In April, commodity is scarce and tungsten price begins being resilient. Moreover, environmental inspection in Hunan, Fujian and Henan causes raw material factories shut down. In the middle of May, price rises to RMB 85,000/ton. Then environmental inspection current slows down, demand is normal, tungsten price also decreases. In the end of June, tungsten concentrate price is close to RMB 80,000/ton.

Tungsten Market Submit
In the first half year of 2017, tungsten market is recovering, especially tungsten concentrate price. Tungsten price gradually exceeds cost line. Inventory is reducing, some of them with both low price and high price are flowing into market. A large enterprise consumes its inventory results in scarcity of tungsten concentrate raw material. Strict environmental inspection shuts down some enterprises. In a word, tungsten market is recovering, price is rising and people’s attitude toward market is positive and rational.

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