Analysis of latest tungsten market
The tungsten carbide powder and ferro tungsten prices continued the downward trend as the decline in new guide prices of large tungsten companies weakened market confidence. Under the weak demand, capital shortage and reduced exports, product prices are still hard to rebound in the short term.
Affected by thin trading volumes and profit cuts, smelting factories remain low operating rate. Although main tungsten producing enterprises joint together to reduce production, the terminal side keeps weak, so most market participants are cautious and prices are hard to stabilize.
Xiamen Tungsten released its new offers for the second half of June: APT was quoted at $229.5/mtu, down $17.7/mtu from the first half of this month.