SHANGHAI, Apr 2 (SMM) - At the beginning of the week, the domestic tungsten price remained strong, and the wait-and-see mood of the industry has not weakened.
The mainstream quotations for 65% of black tungsten concentrate are around 127,000 yuan/ton and above. Under the tight supply, sellers kept strong prices, and it is difficult to find low-priced supply in the market.
The APT bargaining is close to 188,000 yuan/ton. Low price has made smelters less motivated to produce, and they have maintained low inventory.
In the tungsten powder market, the downstream cemented carbide replenishment plan has not yet been fully implemented, and the overall trading enthusiasm is limited. Buying is based on demand.
It should be noted that the tight supply of tungsten raw materials has not been alleviated. Even if the end consumption release is lower than expected, it will not exert significant pressure on tungsten prices. SMM predicts that the strong trend of tungsten prices will not change in the new month and is expected to continue to maintain a slight upward trend.
