China’s tungsten Market Remained Strong in July
- Category: Tungsten’s News
- Published on Monday, 02 August 2021 17:18
Analysis of latest tungsten market from Chinatungsten Online
China’s tungsten market continued to remain strong in the week ended on Friday, July 30, 2021 with different attitudes towards the outlook. Raw material manufacturers still have strong rised mentality while intermediaries and downstream users are cautious to avoid risks given that the price is high at present.
Since late June, China’s domestic tungsten prices have continued to rise. According to statistics from Chinatungsten Online, the price of high-grade tungsten concentrate rose from $16,031.7/ton to current $18,095.2/ton, an increase of about 12.9%; APT price increased from $274.4/mtu to $304.8/mtu, an increase of about 11.1%; tungsten powder price rose from $37.0/kg to $41.0/kg, an increase of about 10.7%. As the price rises, raw material resources are difficult to find and the back-end users become cautious. The whole market transactions are limited.
Regarding the market outlook, companies mostly look forward to seeking long-term, sustainable and healthy development with steadiness, but they are also worried that the stabilization of the market will induce panic. It is important that the industry to remain rational in this period.