Analysis of latest tungsten market in China from Chinatungsten Online: Domestic tungsten price is stable in October, mainly on the expectations for environmental protection policy from the raw material side and tight supply. But as the outlook of downstream demand remains unclear, it is still a question on price trend.
Besides, the return of funds is difficult, coupled with weak purchases and enquiry, at the end of the month, short atmosphere on the strong side. Mainstream tungsten products price will still stabilize.
In tungsten concentrate market, downstream smelters continue to force prices down to reduce their risks and mines have shortage in a certain. Sellers are reluctant to sell products as they bullish on the long-term market. The trading volume in the market is still in a stalemate and miners are caught in heavy wait-and-see atmosphere.
APT export fell by 53.4% month-to-month in September, showing that the acceptance of international market for raw material price is low and the demand side follows up slowly. It also indicates APT price declines more fast from the middle September to the middle October. However, manufacturers have no willingness to reduce their prices as their profits are squeezed affected by rare low-price raw materials. On this occasion, the quotation of APT stabilizes and trading volume is less on the whole.
The operating rate of smelting factories in tungsten powder market is not so high, affected by limited new orders in downstream alloy enterprises. The weakness in the terminal demand is hard to change at present. Tungsten powder price without strong support shows signs of decline.
Comprehensive analysis: With the coming of November, the chronic wait-and-see atmosphere comes out, tungsten market will enter a short period of adjustment and prices will not change basically. Tungsten products price is expected to remain stable in the short term, but it doesn’t mean the stable trend will continue in the afternoon market. From the point of view, the price is likely to fall if there have no favorable news in the market.
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