Tungsten Price – Aug. 18, 2017

Tungsten price in China this week mainly rises or falls at a very small range. The market turnover is still flat. Affected by raw material speculation enthusiasm, price of tungsten products at the beginning of this week showed a slight increase. However, as the demand has not increase and the market becomes cautious, raw material takes a consolidation pattern.

It is understood that there are still some small mines continue to stop production, of which the production cost is lower than the current price. Environmental protection and businesses willingness to reduce production are still supporting the market. Due to the low operating rate, limited shipment, tungsten concentrate market is promising. But tungsten concentrate holder is a little hesitant to increase price with the weak purchasing intention and flat volume.

Lacking support of consumption, the enthusiasm of downstream smelter to get into the market is weak. Coupled with the high costs, traders are inactive for purchasing and enquiring. APT manufacturers, however, due to their optimism about tungsten concentrate, willing to insist on a conservative selling way, waiting for the price growth.

As the raw material is difficult to purchase and new orders is limited, current production is mainly depend on the previous long-term order. Quotations in the powder market are relatively confusing, so some manufacturers stop to offer quotation, watching the contest between supply and demand.

Overall, there is still room for tungsten price to increase. After the traditional off-season, downstream demand is expected to increase. By then, the shipper will be more motivated to increase price.

Price of tungsten products on Aug. 18, 2017

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