China tungsten prices seen stable ahead of CNY holiday

Chinese prices of tungsten products are expected to remain stable prior to the start of the Chinese New Year holidays over February 4-10, industry sources said Friday. Market sentiment should receive a little lift because the reduction in supply will likely offset the impact of the dip in demand, they suggested.

As of January 24, the price for 80% W ferrotungsten had spent more than a month hovering at the 17-month low of Yuan 159,000/tonne ($23,413/t) including the 16% VAT. As of last Thursday too, the domestic price for tungsten concentrates of W 65% or higher had stayed at Yuan 95,500/t including the 16%