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China Tungsten Prices Were in the Downward Trend in the Middle of May

Posted by: Chris Na 2021-11-25 Comments Off on China Tungsten Prices Were in the Downward Trend in the Middle of May

China tungsten Prices Were in the Downward Trend in the Middle of May

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Category: Tungsten’s News
Published on Monday, 20 May 2019 18:31

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices were in the downward trend in the week ended on Friday May 17. Smelting factories faced risk of price inversion when the raw material market has difficulty in sales. The terminal market continued its weakness and trading environmental has been unstable recently. The whole tungsten market was caught in heavy wait-and-see atmosphere but got supported from the cost.

In the tungsten concentrate marker, sellers and buyers had different psychological price for products, and thus transactions were hardly concluded. The environmental protection inspection slightly eased the situation of low-price sales, but the spot market still faced great pressure from both supply and demand sides. Mainstream tungsten concentrate prices mainly hovered around $14,531.25/t. 

Under the influence of less orders, declined guide prices of large companies, Fanya inventory risks, and Sino-US economic and trade frictions, traders were generally pessimistic about the outlook. Downstream users were cautious in replenishing their stocks. The smelting plant has low enthusiasm for production under the pressure of price inversion. The market volume was at a low level. 

Tungsten powder manufacturers have a strong willingness to sell products, but the bidding performance is difficult to stimulate buying enthusiasm. The downstream alloys and products companies expressed that the new orders were rare, and the buying was insufficient. The smelting plants mainly reduced inventories and remained rigid demand. Buyers tried to force price down and prices for tungsten powder declined.

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