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Analysis of latest tungsten market from Chinatungsten Online

The ferro tungsten and ammonium metatungstate (APT) prices in China maintain stability but show signs of rise in the middle of February but market deals are rarely concluded when the operating rate of the industry is low due to the epidemic. The market outlook remains unclear with heavy wait-and-see atmosphere. 

The workers at the production line are difficult to come back to work in the tungsten concentrate market, resulting in supply shortage. In addition, the epidemic prevention works and material preparation increase the cost of products. Therefore, most sellers are reluctant to sell, and prices break through the level of 13,235.3/t. 

The APT market also features Cemented Carbide Tool increased product prices but low trading activity due to the availability of raw materials and transport restriction.  China's Xiamen Tungsten quoted APT at $231/mtu, rising slightly compared with last month.

As of February 17, among the 71 members that have reported the restart of production, there has a 58% recovery rate, a 63% staff recovery rate, and a 62% equipment operation rate, according to the statistics of the China Tungsten Industry Association.

Prices of tungsten products on Feb. 19, 2020

Picture of blue tungsten oxide 

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Analysis of latest tungsten market from ChinaTungsten Online

Chinese tungsten market is in a tungsten carbide rods stalemate, with tungsten carbide strips rare new increased orders. The weakness in demand makes insiders feel doubt about market outlook. With the approaching of Mid-Autumn Festival, tungsten prices will tend to stabilize. 

In Jiangxi province, China, a miner was reported to sale 15 tons of 65% wolframite concentrate at RMB 98,000/t; smelters sold 10 and 20 tons of APT at RMB 15,800.00/t and RMB 15,700.00/t, respectively; tungsten powder manufacturers sold 15 and 5 tons of tungsten powder at RMB 252.00/kg and RMB 254.00/kg.

Prices of tungsten products on Sep. 13, 2018

Picture of tungsten carbide powder

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A modern tungsten production line belonging to Masan Resources in Thái Nguyên Province. Masan Resources has acquired Germany-owned H.C. Starck’s global tungsten business. 

HCM CITY — Masan Tungsten Limited Liability Company, a wholly owned subsidiary of Masan Resources Corporation, has signed an agreement to buy the tungsten business of Germany’s H.C. Starck Group GmbH.

Starck is a leading manufacturer of high-tech tungsten metal powders and carbides (midstream Tungsten Carbide Rods tungsten products) with production facilities in Europe, North America and China and customers across the globe.

This transaction is a strategic step in executing Masan Resources Corporation (MSR)’s vision to become a leading global vertically integrated high-tech industrial materials platform.

MSR’s low-cost, stable primary supply of APT combined with Starck’s scrap recycling platform will provide the former with a competitive edge globally.

This will enable it to generate strong and consistent cash flows across price cycles and expand its addressable market by 3.5 times from US$1.3 billion to $4.6 billion.

MSR will become a leading midstream tungsten products supplier across critical industries such as mechanical engineering and tool making, mining, automotive, energy, aviation, tungsten carbide burrs blank and chemicals.

The move into midstream tungsten products is also value enhancing as these products command on average a 30-50 per cent premium to APT products.  

This transaction will create a global high-tech industrial company of scale in Vietnam, and, more importantly, enhance Vi?t Nam’s competitive edge in the global tungsten market by owning a cutting-edge R&D and technology platform and offer the Vietnamese workforce an opportunity to develop engineering skills in the high-tech manufacturing space as part of the globalisation of MSR’s business.

Closing of the transaction is subject to certain regulatory approvals, including governmental, in Vi?t Nam. 

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