China tungsten price was in the upward trend in the week ended on Friday July 31, 2020, but affected by the weakness both in the supply and demand sides, transactions were poor at the end of this month. In the short term, market participants will take a watchful for the new guide price for early August from tungsten institutions.
Tungsten raw material suppliers have good optimistic sentiment thanks to the support from reduced output due to stricter environmental protection and bad weather. Tungsten concentrate price was rasied to $12,500/t with rare deals concluded. Considering the economic slowdown worldwide, the recovery in demand is important.
Participants were optimistic about the outlook for APT prices in China, expecting them to continue to rise in the short term due to scheduled maintenance halts at domestic APT plants in July and August. And for the tungsten powder market, prices will consolidateat about $28.7/kg in the short term and most insiders may remain cautious sentiment in the short term.