Tungsten Market Continues to Be Stalemated

Analysis of latest tungsten market in China from Chinatungsten Online: Tungsten market continues to be stalemated. The long-term negotiated prices for the second half of September released by Zhangyuan Tungsten fall, which hurts seller’s confidence. Buyers still force the price down, low-cost stocks flow into the market and the mainstream tungsten products price continues weak in the short term adjustment.

The long-term negotiated prices slightly decline compared with the first half of September. Quotation for wolframite concentrate is US$ 17,054 per tonne, down US$ 1,550 per tonne; scheelite concentrate decreases by US$ 1,550 per tonne to US$ 16,821 per tonne; APT falls by US$17.5 per mtu to US$ 297 per mtu.

It has strong demand in European and American market. APT quotation in Europe ranges between USD$ 310 and 325 per mtu, unchanging from the previous trading day; APT quotation in main ports ranges between USD$ 310 and 325 per mtu, average price falling by USD$ 2.5 per mtu.

Tungsten market in China，transaction price narrows, selling products at low price reduces significantly. Though the market is caught in heavy wait-and-see atmosphere, with more shipments of low-cost raw materials, stocks are decreasing, purchases and sales in enterprises start to be conducted in order. The current tungsten concentrate and APT market start showing signs of stability.

Comprehensive analysis: Transaction prices of mainstream tungsten products in the market are basically close to the long-term negotiated prices released by large enterprises. Mentality of mainstream large-scale companies and market gradually stabilizes, of which individual business bearish on the market. Tungsten price is expected to stabilize after a period of consolidation.

Price of tungsten products on Sep. 22, 2017

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