Transactions Tumbled in Chinese Tungsten Market

Analysis of latest Chinese tungsten market from Chinatungsten Online: It is hard to make a transaction in the tungsten market and enterprises have lost their interests in recent trading. Price instability, weak demand and heavy wait-and-see atmosphere are common in the market. Moreover, transaction price has lost its rationality.

Purchasers are trying to force price down, for which sellers are difficult to accept. Therefore, some enterprises stop purchasing and selling before the holiday.

Prices of tungsten products are unchanged from the previous trading day. Wolframite concentrate quotas at $16,744 per tonne to $17,054 per tonne; scheelite concentrate quotas at $16,434 per tonne to $16,744 per tonne; APT quotas at $289 per mtu to $292 per mtu; medium particle tungsten carbide price is $41 per tonne to $42 per tonne.

Tungsten concentrate trading is stalemated. Purchase prices from smelters are generally lower than market price as it is hard to expect later price of APT. Though high-grade wolframite stands at $0.23 per kilogram at sellers' market, the actual transaction price is below $0.22 per kilogram. Affected by that, some tungsten ore companies stop shipments.

Trading volume is also less in the smelting market. With the release of long-term negotiated price from large enterprises, quotation for mainstream tungsten products hovers around $25,426 per tonne. Orders are very limited, in addition to few big companies, most medium-and small-scale tungsten powder enterprises has stopped purchasing.

Comprehensive analysis: Tungsten market is full of feel of a traditional vacation ahead, thus interest in buyers and sellers declines. Most enterprises pay close attention on the guidance price from Ganzhou Tungsten Association at the beginning of October. Chinatungsten Online forecast that tungsten price will decline further and trading volume is limited. Enterprises need to be cautious about changes in the current market.

Price of tungsten products on Sep. 30, 2017

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