Thin Trading And Stable Price in Chinese tungsten Market
- Category: Tungsten’s News
- Published on Thursday, 08 February 2018 11:51
Analysis of latest tungsten market in China from Chinatungsten Online: Chinese tungsten market now is quiet. Trading in the spot market is less, sellers remain low willingness in sell and buyers are gradually stopping purchase. With the finished stocking up the downstream enterprises, tungsten price will stabilize.
Affected by the cold weather and holiday, most mines stop works to undergo repair. In addition, the annual sessions of NPC and CPPCC will be held on March 3rd and 5rd, 2018. At that time, the environmental protection policy will further limit the operating rate of mines and thus raw material supply would become tighter. So traders are optimistic about the late tungsten market trend.
In the APT market, new increased orders in the smelting factories are decreasing. Due to the stability of the guide prices released by large tungsten enterprises on Monday, traders are rational and mainly wait and see.
With the approaching of Chinese Spring Festival, tungsten market will soon be closed. But as market participants are bullish on late price and high market quotation boost the mentality of tungsten powder manufacturers, tungsten powder price rise slightly.
The relationship between supply and demand is very important to the price trend and environmental protection policy affecting the production of downstream enterprises will limit the growth of demand at some points. Coupled with weak demand for raw materials, tungsten price is now hard to be forecasted.
Link to this article：Thin Trading And Stable Price in Chinese Tungsten Market
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