The tungsten prices in China maintain stability when market participants face pressure from the demand and capital sides. Most of insiders are waiting for the average tungsten forecast prices from Ganzhou Tungsten, new offers from listed tungsten companies and the auction of Fanya stockpiles.
In the tungsten concentrate market, mining enterprises’ profit margin is low and they are reluctant to sell their products. The environmental protection supervision and climatic factors restrict the supply of raw material spot resources and high smelting and processing costs support the stability in tungsten concentrate prices. However, the orders from downstream factories are cautiously released, and the enthusiasm of traders for purchasing is not high. The overall market sentiment is light, and they just needed to take the goods.
In the APT market, the external tax policy and the fluctuation of RMB exchange rate have affected the instability of import and export trade, and the slow recovery of manufacturing industry has affected the traders’ demand expectations. The Fanya inventory flow will directly affect the supply and demand pattern of the spot market. The certainty in the market is still large. Most traders take a watchful stance with cautious sentiment.