China’s domestic tungsten concentrate price was up by 1.2% over the past week. The increase came as producers held their prices firm, as it is close to their cost lines, and buyers restocked ahead of the New Year.
Tungsten concentrate miners had previously cut their offer prices to encourage buying so are now under no pressure to sell. They are choosing to hold back their stock in anticipation of better prices. Combined with traders’ restocking activities, the market now has limited supply of tungsten concentrate, according to a producer in China.