Chinese tungsten Market Shows Good Momentum
- Category: Tungsten’s News
- Published on Friday, 29 December 2017 10:58
Analysis of latest tungsten market in China from Chinatungsten Online: This week, Chinese tungsten market continues to show good momentum and tight supply of raw material is the main feature of the market. Under the pressure of tight funds, deadlocked supply and demand, tungsten price slows down the pace of rise. After the holiday, the new law of environmental protection will be implemented, further reducing market resources. Short-term tungsten price is likely to rise.
Affected by stopping production of mines at the year-end, spot goods are tight on the whole. As downstream and terminal market has adequate stocks, market demand is weak. Tungsten concentrate price has rised 54 per cent from $11,473/t at the beginning of year to $17,674/t at the end of year, according to the data shown from Chinatungsten.
APT manufacturers face high pressure from tungsten raw material market, thus part of enterprises has strong rised mentality. Due to rare tungsten ore and cautious attitude towards enquiry in the downstream market, market trading is quiet. In 2017, APT price has rised more than 58 per cent, from $193/mtu at the beginning of the year to $305/mtu at the end of year, according to Chinatungsten Online.
Tungsten powder manufacturers and traders have high willing to maintain the current market price due to the rise in raw material price and shortage of supply. While the situation of terminal demand has not yet improved and new orders are less, so the space of rise is limited. Short-term tungsten powder market will be stable. Chinatungsten Online reported that tungsten powder price has rised more than 53 per cent from $27/kg at the beginning of year to $42/kg at the end of year.