Building on the momentum, most Chinese and overseas tungsten market participants remain bullish into the second half of this year, Fastmarkets has learned.
“[The domestic] market had been stalled from mid-April to mid-June, with concentrate prices holding up around 98,000 yuan ($15,121) per tonne,” a Chinese producer source said. “I couldn’t find a reason for a price drop when the [concentrate] market is now firm.”
Fastmarkets’ weekly price assessment for tungsten concentrate 65% WO3, in-whs China was 114,000-116,000 yuan per tonne on Wednesday August 11, widening upward by 1,000 yuan per tonne from 114,000-115,000 yuan per tonne a week earlier.
Market participants in Europe also expect further price increases during the second half of 2021 due to low inventories at the US port of Baltimore and the Dutch port of Rotterdam and healthy demand from the construction, automotive and super alloys sectors.
A tight supply of...