Tungsten Market Stabilizes on Enterprises’ Bailout Plan

Analysis of latest tungsten market in China from Chinatungsten Online: Tungsten market was slightly calm yesterday. Affected by the rumor that big tungsten enterprises will carry out the bailout plan this week, tungsten market was caught in heavy wait-and-see atmosphere, trading volume in general and individual companies began to their planned procurement.

 A large number of stocks reduction in last week gives a chance for low-stock enterprises to replenish inventories. Rumor of large enterprises supporting market emerges signs, basically for the supplement of raw materials.

There are widely divergent views on tungsten market. The mainstream view on the afternoon market from the raw material end is still bullish, but downstream enterprises’ acceptance for high raw materials price is limited. Some sellers’ profit delivery creates further disquiet. Mainstream tungsten price is expected to stabilize after weak in the short term adjustment.

Tungsten concentrate market: Most sellers still have faith in production of environmental protection and golden nine silvers ten. In order to stabilize market sentiment, it is reported that some big miners begin to operate big tray. Note that downstream enterprises are still resist high prices of raw materials and transaction prices are generally lower.

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APT market: Smelters’ mentality starts to loose, traders are entering the market to inquiry, but the actual deal is still limited. The current tungsten price tends to close up guidance prices released by large enterprises. APT quotes at US$ 306 per mtu. Market participants should be more cautious in their operations.

Tungsten powder market: The price adjustment range is relatively narrow and downstream enterprises’ demand remains weak. Most powder manufactures wait and see. At present, high quality tungsten powder price stabilizes around US$ 43 per kilogram.

Comprehensive analysis: Tungsten market tends to be stable and direct participation of large enterprises boosts the confidence of market. The actual value of tungsten price is strengthened again after the current round of price correction. We forecast that tungsten price is expected to continue to improve with the rational callback of enterprises and stopping of selling tungsten products at low price.

Price of tungsten products on Sep. 6, 2017

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