China Tungsten Prices Are High Supported by Tight Supply of raw materials

China tungsten prices maintain at a relatively high level supported by improved market confidence, high production costs and tight supply of raw materials. But some traders are not willing to trade at high prices without demand support, and thus actual transactions are limited, replying on rigid demand. In the short term, the spot market would continue to have prices but no sales.

After the holiday of National Day, miners and smelting factories return to work gradually, having an impact on the relationship between supply and demand. The market now is not clear. Waiting for high prices to sell or improved demand from terminal market will increase spot transactions, but it can not be predicted who will gain the initiative on product pricing. In early October, market participants will wait for the new guide prices from institutions, policies for environmental protection and bilateral economic and trade consultation.

Post time: Oct-12-2019

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