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Analysis of latest tungsten market in China from Chinatungsten Online
Opening this week, the first long-term negotiated prices in November from a listed tungsten enterprise in Fujian declined, which further depressed bullish psychological in the market. Domestic tungsten market faces great capital pressure at year-end, downstream customers demand a lower price and the demand is hard to recover. If there have no favorable news shown in the market, market participants will maintain their judgment of thin market.
The environmental protection policy is limiting the production of mines, so the supply remains tight in the tungsten concentrate market. With the support of supply and cost, most sellers are reluctant to sell products at low prices. But under the continuous quiet market and the adjustment of guidance prices, the mentality of small manufacturers and traders is challenged. In the short term, tungsten concentrate price will maintain weak adjustment on the whole.
The long-term negotiated prices from Zhangyuan Tungsten were released. Wolframite concentrate quotes at $15,426 per tonne, down $388 per tonne month-on-month; APT quotes at $273 per mtu, down $7 per mtu month-on-month.
Manufacturers in APT market turn negative on the afternoon market, following large enterprises. But with the support of raw materials, APT price slows the pace of decline, and manufacturers’ willingness in producing is relatively weak. The long-term negotiated price for APT from Xiamen Tungsten quotes at $271.5 per mtu, down $5 per mtu month-on-month.
As the guidance prices have not brought good news for the market, buyers in the tungsten powder further force prices down, downstream alloy products enterprises’ sales dwindle. The tungsten powder price without the support of demands has large risks to decline. Businesses are more cautious on their operations, reducing profits.
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