Long-term Negotiated Price Declined, Pressuring Tungsten Market

       

Analysis of latest tungsten market in China from Chinatungsten Online: It is reported that the long-term negotiated price offered by large-scale tungsten enterprise in Fujian on Monday declined by US$ 8.76 per tonne to US$ 294 per tonne, compared with last week. 

Affected by the decline, quotation for domestic mainstream tungsten products declined. Wolframite concentrate quoted at US$ 17,519-17,829 per tonne, the average price fell US$ 310 per tonne; scheelite concentrate stood at US$ 17,209-17,519 per tonne, down US$ 310 per tonne; APT offered US$ 297-301 per mtu, the average price fell US$ 10.5 per mtu. Tungsten powder products price was unchanged.

Buyers and sellers in the tungsten market refuse to budge: weak demand presses upstream enterprises and sellers who have good expectation for environmental protection policy are reluctant to sell at low price. Businesses turn negative on the market.