Chinese Tungsten Prices Remained Depressed by Scale of Fanya Stockpiles

Chinese tungsten prices maintained stability at the beginning of the week. The second-instance trial of Fanya case was settled last Friday on July 26, 2019. The industry was worried about stockpiles of 431.95 tons of tungsten and 29,651 tons of ammonium paratungstate(APT). So the current market pattern would remain unchanged in the short term.

On the one hand, low raw material market prices and high environmental protection costs are squeezing corporate profits, and some factories even face pressure of price inversion. The sellers are reluctant to sell. Moreover, the environmental checks, heavy rains and output cuts of enterprises also reduce the volume of low-price resources. On the other hand, purchasers are not active in replenishment on weak demand side and worry of Fanya stockpiles. The unstable economic environment also is hard to boost market confidence. Given that, the market is expected to be caught in wait-and-see atmosphere.

Post time: Aug-02-2019

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