Low Operating Rate, High Level Tungsten Price

Price of tungsten products in China this week continues to rise. The growth of raw materials price slowed down, waiting for a new round of long-term negotiated price offered by large-scale tungsten enterprises to show the way.

Ferrotungsten price continues to follow up, and the price of high quality tungsten powder has exceeded this month’s average price predicted by Ganzhou Tungsten Association. At present, as no significant improvement in demand, tungsten market’s growth was restrained. However, the growth of price will continue to be mainstream with the intensified supervision and marketing hype.

In terms of tungsten concentrate, the operating rate of mine is still low. The fourth batch of 8 central environmental protection inspection teams will be stationed in Sichuan, Xinjiang and other places on August 7 - 15 for a period of monthly supervision, leading to further reduction in supply. In order to get rid of cost pressures, miners actively raise quotations.  But the operation tends to be cautious in consideration of risk caused by high pre cumulative uplifts.

Ferrotungsten price continues to follow up. On the one hand, quotation of manufacturers is strong supported by cost of raw materials. On the other hand, the market atmosphere has been boosted by recent high level operation in steel market.

Overall, the tungsten market is still in short supply, giving strong kinetic energy for high tungsten prices. But the effect of the off-season demand still exists, exacerbating the fear of heights. Variation trend of tungsten price in China still need further consideration of various factors, so please pay close attention to the report of Chinatungsten Online.

Price of tungsten products on Aug. 8, 2017

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