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Tungsten Market Continues to Be weak Without Clear Guidance

Posted by: Chris Na 2021-12-04 Comments Off on Tungsten Market Continues to Be weak Without Clear Guidance

tungsten Market Continues to Be weak Without Clear Guidance

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Category: Tungsten’s News
Published on Wednesday, 25 October 2017 14:03

Analysis of latest tungsten market in China from Chinatungsten Online: In the earlier stage of third quarter, tungsten products price jumped on the back of tight supply. But, it takes time for the terminal market to digest and more risks are produced along with price rally. Besides, it has no continuous demand for the adequate stock purchased in the earlier stage, so the price sees a callback now.

Tungsten products price is unchanged from the previous trading day. Wolframite concentrate quotes between $15,814 per tonne and $16,124 per tonne; 55% tungsten ore quotes between $15,503 per tonne and $15,814 per tonne; scheelite concentrate ranges from $15,503 per tonne to $15,814 per tonne; 55% scheelite ranges from $15,193 per tonne to $15,503 per tonne; APT quotes at $277 per mtu to $280 per mtu.

Production in the mainstream mines has been limited again since October, affected by stricter environmental protection policy. Some medium-and-small mines even stopped production to undergo repair. High raw material cost, low willingness of shipments, light trading volumes and weak market confidence are the features of the current tungsten market.

It is worth noting that the new round of long-term negotiated price declines slightly, but is gradually close to the actual price in the market. Some traders think that stocks in smelting enterprises prepared in the earlier stage are gradually consumed, stabilization mentality in the raw material market is enhanced, so under the weakness in both supply and demand, the game in the market funds begins.

Taken together, the current industry policy, market and public opinion direction are not clear enough, and buyers and sellers are in a stalemate. As the demand in the downstream market is hard to increase, depressing market slows down the pace of purchase of some manufacturers, Chinatungsten Online expects that the current weak market is difficult to change in the short term. The situation is still worrying before the release of favorable news.

Price of tungsten products on Oct. 25, 2017

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