China ferrotungsten price drops on bearish sentiment

Domestic prices of ferrotungsten across China have continued to drop amid the lingering bearish sentiment in the market, with that for 80% W ferrotungsten losing another Yuan 2,000/tonne ($289/t) month on month to reach a 22-month low of Yuan 154,000/t including the 13% VAT as of June 13, according to Mysteel’s database.

“Downstream industries have been dull this year, and their demand for tungsten products has decreased substantially,” a market source in Southeast China’s Jiangxi province said, adding that domestic ferrotungsten smelters have had to cut their production in order to ease the oversupply in the domestic market and reduce their procurement of concentrates. However, although