China’s domestic tungsten price kept stable in the week ended on Friday, June 18, 2021 as the whole market continued to be in a stalemate with cautious sentiment of participants.
Offers for raw material concentrate mainly stabilized at about $15,555.6/t. although sellers have strong rised mentality boosted by high production cost and inflation speculation, downstream users took a watchful stance and were not will to replenish. Rare deals were reported in the market.
The ammonium paratungstate (APT) market faced pressure both from the cost and demand sides. As a result, manufacturers stabilized their offers for APT at $263.7/mtu. Participants believed that the tungsten market is expected to rebound in the future under the expectation of the recovery of downstream consumption, the tightening availability of raw materials and the stable production cost. However, the negative impact of the current epidemic and international economic and trade on the consumer market was still obvious.