Analysis of latest tungsten market in China from Chinatungsten Online: The guidance prices for October from associations and large tungsten enterprises have been released, sharply declining compared with the second half of September, which crimps market confidence.
But compared with the low trading volume in the market, institutions and companies have firm determination to support the market and purchasers have limited space for lowering price.
There have no favorable news comes out from tungsten concentrates market and the continuous quiet trading is hitting businesses’ mentality of supporting market. Besides, some traders intent to increase their shipments and transaction price shows falling tendency. But as the supply of raw material is still tight, environmental protection inspection will further reduce working times in mines, supply side may have good news. Wolframite concentrate has strong support when price hovers around $15,504 per tonne.
APT market features low consumption demand and strong demand for a lower price at present. The high price, supported by tight raw materials and high cost, is hard to maintain. After the decline of guidance price, businesses tend to be pessimistic and quotation gets closing to $280 per mtu.
As for tungsten powder market, downstream companies have to reduce their production costs as sale prices are hard to pick up. And in order to maintain steady shipments with long-term cooperation clients, most powder companies reduce their profits. High-grade tungsten price temporarily stabilizes in $41 per tonne.
Comprehensive analysis: The whole tungsten market is pervading with worry, market participants are asking: when the fall will be stopped? Large enterprises are cautious, supply and demand is close to balance, environmental protection policy effect is weakening and favorable policies in the industry will not be released temporarily. Chinatungsten Online forecasts that tungsten market will move forward wearily.
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