Analysis of latest tungsten market in China from Chinatungsten Online: This week, domestic tungsten market stabilizes after in line for some weak consolidation. As the supply remains tight, traders’ profit delivery not only weakens strong market, but also releases some high price risks.
In the short term, in circumstances where no obvious increase in buyers’ inventory and purchasers’ demand, tungsten price will maintain volatile and businesses will be more cautious in their operations.
For tungsten concentrate, the gap between total price level and reasonable price widens, with room to rise. From January to August, cumulative average price stands at US$ 12,574 per tonne, up 19.81 per cent year on year. But compared with US$ 21,054 per tonne, a record high in 2011, it falls by 40.28 per cent. In the second half of 2017, demand picks up and raw materials’ supply remains tight. Tungsten concentrate price broke through US$ 13,953 per tonne in July, August reached US$ 15,504 per tonne and September hit record high US$ 18,605 per tonne, according to the article released by China Tungsten Industry Association yesterday.
The current transaction in the market is not active, but tungsten price shows signs of a rise. In spot market, APT transaction slightly picks up this week, from the lowest point US$ 301 per mtu to US$ 308 per mtu yesterday. We expect the current quotation will stand between US$ 308 per mtu and US$ 312 per mtu. Some smelters raise their quotation to US$ 315 per mtu, but without the transaction at present.
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