China tungsten price keeps stable in the last trading day of March as participants mostly remain cautious sentiment in the face of supply chain disruptions caused by international conflicts and the epidemic, soaring energy prices, constrained logistics and reduced consumption momentum in manufacturing.
In the tungsten concentrate market, product offers were $19,354.8/ton but no deals concluded. Market trading becomes slowly under the pressure of cost and mining enterprises have strong rised mentality as they are optimistic about the outlook under environmental protection, inflation and high value of strategic resources in the context of geopolitical conflicts.
China’s domestic tungsten price remains firm and stable in the week ended on Friday, March 18, 2022 as raw material manufacturers’ confidence was shored up by the ferro tungsten and alloy markets affected by the concerns about the tight resource supply and the increased cost of smelting auxiliary materials under conflict between Russia and Ukraine.
However, the impact of overseas tensions to the domestic market is limited. Although the financial market has reacted violently, the fundamentals of supply and demand in the tungsten industry have not changed significantly. The market trading is still deadlocked, and the room for price adjustment is relatively limited.
In the tungsten products industry chain, tungsten concentrate is the primary commodity of tungsten products after mining and concentration, and it is also the first production link of the tungsten products industry chain. The output volume, quality and market price of tungsten concentrate have a direct and decisive impact on the whole tungsten products market.
Ammonium Paratungstate (APT) is an important intermediate product of tungsten. It not only undertakes the main quality attributes and most of the production capacity after the primary smelting of tungsten concentrate, but also the front-end raw material of Tungsten Trioxide (WO3) in the next important stage. It is the main chemical form of tungsten intermediate products.
Quotations from tungsten concentrate and APT manufacturers show signs of rise despite market trading has not improved. The new round of guide prices for early March will soon be released and considering the general good expectation, the actual transaction prices are in an upward trend.
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