Analysis of latest tungsten market in China from Chinatungsten Online: Domestic tungsten price continues to fall this week, failing to reach expectations of both buyers and sellers. In the last trading days before the holiday, supply and demand refuse to budge, traders sell their products but no record of transaction, quotation purchases from downstream enterprises are low. Tungsten market is quite.
How much an impact can market sentiment have? When tungsten price keeps falling, some enterprises will adopt conservative purchase price that is lower than the actual market price to control risks. But when the market has good expectation, price will keep rising, thus market confidence grows.
65% wolframite concentrate price has fallen below US$ 17, 054 per tonne, but trading volume in downstream sees no growth, purchasers force price down, worries in raw materials market is spreading and tungsten concentrate price show signs of decline. Some traders are concerned about the impact of the 19th National Congress and Environmental Protection Inspection in winter, thus they have no willing to cut price in the short term.
Affected by the rally in previous months, traders bearish on APT market for the moment. Manufacturers more willing to sell products due to high pressure of capital return at the end of month and less orders, but downstream enterprises are reluctant to buy. APT transaction price tends to decline.
Some manufactures insist to sell tungsten powder at US$ 43.40 per kilogram, but according to market feedback, the actual transaction price has been lower than US$ 40.30 per kilogram. The demand for tungsten powder is weak, and traders are cautious in business operations.
Comprehensive analysis: With the approaching of the National Day, the market is full of feel of a traditional vacation ahead, so treading volume is limited. Besides, more and more enterprises are paying close attention on the guidance price from Ganzhou Tungsten Association at the beginning of October. Without obvious favorable news supporting, tungsten price will remain weak.
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