Narrowed Fluctuation Range of Tungsten Price

Yesterday, the overall tungsten market in china products tends to a wait-and-see mode. The fluctuation range of mainstream tungsten price relatively narrowed. Affected by the shortage of raw materials, currently the market purchasing enthusiasm is low.

Downstream enterprises maintain a strong willing of supporting the price.  As the battle between cost and demand still exists, some enterprises choose to suspend quotation.

While the cost line supports the high price of tungsten concentrate, psychological resistance to high price leads to absence of trading volumes in the market. At present, 65% black tungsten concentrate price is still hovering at RMB 95,000/ton, lacking of further more the good news of the lack of traction breakthrough.

Recently, the fourth batch of the Central Environmental Protection Inspectorate has been settled in the relevant provinces and cities. Taking into account the sustainability and effectiveness of environmental supervision, the tungsten price is expected to increase in the afternoon market, though the rising rate may be relatively slow.

The APT smelter mentality is still positive. Supported by raw material cost, traders hold optimistic view. Currently, APT price in market is RMB 146,000/ton. Participants in the afternoon market mainly insist on a conservative way in selling goods, in order to get more profit.

As foe tungsten powder, production and consumption are in a relatively weak state. Different market points make manufacturers dare not rashly adjust prices. Currently, high quality tungsten powder price is temporarily stabilized at RMB 224/kg.

Overall, tungsten production in the short term is difficult to have a recovery. Tungsten price in China will maintain slow growth. Let’s pay close attention to the direction of change on downstream demand.

Price of tungsten products on Aug. 17, 2017

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