China Tungsten Association: Industry Keeping Stable with Good Momentum, Price to Go up in the Future

SHANGHAI, Nov.15 (SMM)－As per China Tungsten Association statistics, during first three quarters, China’s tungsten enterprises gain 25.26% rise in revenues and 109.49% rise in profits and taxes, 25.3% faster than first half of the year. Export volume of tungsten products reaches 22,100 metallic tonnes, rising 38.21% on yearly basis. There are mainly three features of performance of tungsten industry during first three quarters.

The first is tungsten concentrates have a stable output, as well as output rise of its smelting and processing products.

The second is export volume of tungsten products keeps increase. Import volume of tungsten products keeps decrease.

The third is market price keeps rise and volatile.

Tungsten concentrates price overall stabilizes and rises. The data shows after small adjustment in June, the price surged in September with monthly average price of 113,700 yuan per tonne, up 68.2% on yearly basis, 13.93% on monthly basis which is the highest level since Apr 2014. The monthly average price of Tungsten concentrates in October is 103,300 yuan per tonne, up 43.67% on yearly basis, down 9.15% on monthly basis with a retracement. Average price of Tungsten concentrates during January to October reaches 86,600 yuan per tonne, rising 27.17% on yearly basis. The price rise of Tungsten concentrates also drives price of raw materials like APT. Upward domestic tungsten market drives tungsten price of foreign markets.

Generally speaking, with recovering global economy, demand of tungsten market will keep increase. The situation that tungsten concentrates output keeps stable and tungsten raw materials keep tightened remain unchanged. Confidence in tungsten market is promoted gradually. Stabilization of tungsten price is consolidated. It is estimated tungsten price will keep rise in the future with a narrowing fluctuating range.

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