The tungsten powder and ammonium paratungstate(APT) prices in the Chinese market climb slightly as China Molybdenum successfully auctioning Fanya stockpiles lifts up market confidence in the short term. Now the space for price rise remains uncertain, so most producing enterprises stop quoting for their products, waiting for the new guide prices from listed tungsten companies.
In the tungsten concentrate market, stricter environmental protection actions in the North China region before the National Day holiday have intensified the expectation of tight supply in the market, coupled with the strong willingness of mining enterprises to rising prices under the pressure of price inversion, the holders are reluctant to sell. The tungsten ore products now feature tight supply and high prices.
In the APT market, due to the increase in production cost and the end of Fanya stock auction, smelting enterprises have a firm confidence in the near future, and generally wait for a higher price. The APT spot resources of less than $205.5/mut are hard to find. The industry is concerned about the next move in China Molybdenum for these stocks. Therefore, insiders are cautious of making offers.
For the tungsten powder market, the supply of raw materials is difficult to find, and the cost is high, so the price of tungsten powder is passively raised, breaking through the $28/kg mark, but the actual trading atmosphere has not improved significantly. The risk of low consumption in the downstream industry still needs to be digested. Traders are not very motivated to take goods. In terms of cost, demand and financial pressure, they still rely on conservative operations.
Post time: Sep-23-2019