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Tungsten Price Stabilizes Due To The Pressure On Raw Material Costs

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Tungsten Price Stabilizes Due To The Pressure On Raw Material Costs

November 10
13:44 2021

The ferro tungsten and tungsten powder prices in China start to show sign of rise on September 28, 2021 as the epidemic and dual control of energy consumption have caused the cost of raw materials, packaging, labor, and freight to rise, stimulating the passive upward adjustment of product prices.

However, with the approaching of the holiday of National Day, downstream companies lack motivation for centralized stocking. The market is still in a stalemate and participants may continue their cautious sentiment in the short term.

The tungsten concentrate price stabilizes at $17,460.3/ton with rare deals concluded. Due to the expectation of firm costs and tighter supply, the market is expected to keep firm. The industry insiders believe that the “dual limit” is superimposed on the “cold winter”, and the energy shortage at the end of the year may cause the price of bulk commodities to rise.

The tungsten powder price keeps stable at about $40.5/kg temporarily as traders are cautious now. On the one hand, they are worried about the pressure on raw material costs and the intention to stock up before and after the holiday; on the other hand, they are worried that the demand is not as expected and the resource consumption capacity is insufficient.

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