The tungsten powder and ferro tungsten prices in China remained weak adjustment as the demand is difficult to improve in the off season. But supported by tightening availability of raw materials and decreased profits of smelting factories, sellers try to stabilize current offers despite of down stream’s requirement of lower prices and companies’ pressure of price inversion.
In the tungsten concentrate market, participants are rational with wait-and-see attitudes. The market supply and demand pattern is difficult to break through. The buyers and sellers remain low trading appetite and the new trading volume is limited. The spot production capacity of tungsten mines is controlled by environmental protection, production reduction and seasonal factors.
Smelters take fewer orders as terminal buyers’ replenishment fail to meet market expectations. In addition, Fanya inventories of tungsten are not settled. So the whole market is cautious and product prices have not enough strength to rebound. Now traders purchase mainly according to actual needs.