China tungsten prices were in a stalemate in the week ended on Friday August 2, 2019 as raw material sellers were hard to increase products prices and downstream buyers failed to forcing prices down. This week, market participants would wait for the new tungsten forecast prices from Ganzhou Tungsten Association and offers from listed companies.
The tungsten concentrate market was quiet compared with July. Raw material sellers were reluctant to sell products considering persistent tight supply under environmental checks and high production costs. While terminal buyers mainly purchased according to actual production needs.
The smelting plants still avoided the risk of price inversion, remaining low operating rate. The purchase of low-price raw materials was difficult and downstream buyers were not active in buying raw materials. Most insiders took a watchful stance. The tungsten powder market also was thin in trading as most traders were not optimistic about the outlook.