Steady Tungsten Market, Enterprises Wait and See

Analysis of latest tungsten market in China from Chinatungsten Online: Tungsten market this week is gradually seeing stable after considerable oscillation last week and the mentality of enterprises also become calm from panic in the beginning. The reason for the sharp pullback mainly owes to the short-term oversupply that has been enlarged infinitely.

Beginning this week, affected by a series of positive market factors, the market began to maintain stability, transaction at low price become less, and tungsten enterprises begin to purchase in an appropriate price. Traders become more cautious, choosing to follow up the market, as they lack of confidence. Mainstream tungsten prices remain weak at present, waiting for the guidance of large enterprises in the afternoon market.

Tungsten concentrate market continuing weak in the short term adjustment shaken sellers. In order to obtain higher profits, some businesses start to reduce their stocks. It is reported that there have some low-cost stocks begin to flow into the market. 65% wolframite concentrate was dealt at US$ 17,829 per tonne.

In APT market, the cost of raw materials reduces, quotation from manufacturers lowers, and a small amount of deals are concluded. It is reported that some large enterprises are going to increase their purchase volumes to support market, but actual inquiry from consumers is still less. Mainstream smelters are caught in wait-and-see atmosphere. Quotation for APT starts to callback. 

Sales price in the tungsten powder market exceeds US$ 43.4 per kilogram. But with the sudden callback of the market, downstream enterprises are caught in wait-and-see atmosphere. The current quotation from big brand tungsten carbide powder above US$ 43.4 per kilogram, some of them even above US$ 44 per kilogram. Orders in the mainstream tungsten powder enterprises are sufficient, basically no price correction.

Most miners are bullish. They believe that although the environmental protection inspection still affects production in the second half of this year, and miners are unlikely to have mass production, tight supply of tungsten concentrate will continue. Besides, with the support of mining cost and improving of global demand, tungsten prices still have room to rise.

Price of tungsten products on Sep. 13, 2017

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