Tungsten price slightly declined last week. With the rally in previous price, many buyers made certain profits in spot markets, thus more and more buyers sold their products at high price, suggesting a lack of conviction behind the gains. As the price was weak, purchasers lowered prices and buyers concluded deals at low price, pressuring tungsten market.
Tungsten concentrate market
Traders sold products mainly from stocks with frequent low-price trading. But with the decline of stocks, quotation from manufacturers stabilized. 65% wolframite concentrate price fell to US& 18,604 per tonne last week.
APT market
Trading in APT market was not active. Price fluctuations were affected by upstream raw materials price, ranging from US$ 307 per mtu to US$ 312 per mtu. Trading volume on APT spot market also fell, demand weakened and manufacturers were cautious on quotation. For customers, their enthusiasm for purchases was not high, which was difficult to drive APT price.
Tungsten powder market
Tungsten powder manufacturers were passive. On the one hand, upstream tungsten raw materials price maintained high even environmental protection inspection causing price stocks, so manufacturers only can passively follow up purchasing. On the other hand, tungsten powder price increased following cost while downstream enterprises rejecting high-priced products are reluctant to purchase, which further suppressed powder price.
