Substantially Increased Tungsten Price in China

Opening this week, tungsten market in China remains firm. Demand has not recovered, and some traders are still cautious. Supported by supply crunches and positive guidance of large tungsten enterprises, traders are bullish on the market. Tungsten price in China increased substantially.

Environmental inspection continues to affect the tungsten concentrate market. Tight supply of mines is not relieved, and stockists hold a strong willing of supporting the price. However, because buyer's enthusiasm for purchasing expensive raw materials is limited, inquiries in the market are few. Tungsten concentrate price mainly shows tentative growth.

Supply position of products in APT market is affected by raw materials which is difficult to obtain. Supported by the cost, smelting companies mainly insist on a conservative selling way, expecting higher price. As the relationship between supply and demand is expected to improve, downstream of industry chain has approved the market’s rally. APT quotation continues to close to RMB 155,000/ton.

Following the rising trend of raw material price, price of high quality tungsten powder is RMB 233/kg now. Slumping volumes in powder market make some smelting enterprises cautious. But in order to get more profit, manufacturers are more willing to follow the rising trend of raw material price, raising the quotation. Price of tungsten powder is expected to be strong in the afternoon market.

Zhangyuan Tungsten released price of long-term order in the second half. 65% tungsten concentrate price is RMB 100,000/ton, increasing RMB 9,000/ton compared with that of the first half of August. 65% scheelite price is RMB 95,600/ton, increasing 9,000/ton month-over-month. Ammonium paratungstate price is RMB 152,000/ton, increasing RMB 12,000/ton month-on-month.

A sharp increase in the guidance price encourages businesses to actively operate. Plus the supply contraction in the context of limited production, tungsten price is expected to remain high level.

Price of tungsten products on Aug. 22, 2017

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