China’s Domestic Tungsten Price Stabilizes While Export Market Is Firm in Early June

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price is unchanged from the previous trading day on June 10, 2021 due to heavy wait-and-see atmosphere in the market. Despite of the weakness in the overseas markets, China’s export market keeps firm affected by the appreciation of the yuan. 

On the positive side, China’s high-grade tungsten resources continue to be depleted, while output of overseas mining enterprises are relatively low, coupled with stricter environmental protection checks, tight logistics capacity, rising prices, and epidemic prevention, production costs have been increased, leading to strong rised mentality of suppliers. Foreign investors expect the price of APT may reach US$300-400/metric ton in the future. 

On the negative side, sluggish demand is the main negative factor. Different from the soaring trend of bulk commodities, tungsten price keeps stable as the market is still dominated by supply and demand fundamentals. The epidemic has led to a weakening of downstream manufacturing consumption. Market insiders have a cautious attitude towards the outlook. 

Prices of tungsten products on June 11, 2021

Picture of tungsten alloy rod 

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