China tungsten prices continue to be caught in heavy wait-and-see atmosphere as the market is cautious to Fanya stocks, trading environmental at home and abroad and low enthusiasm in raw material replenishment.

As the guidance prices of institutions and offers of large enterprises are lower than spot offer levels, the market confidence is affected greatly. Although the policies of environmental protection and total mining control have certain positive effects on the spot production capacity and cost of raw material tungsten concentrate, under the back-end manufacturing industry, spot consumption or raw material remains at a low level.

The smelting plant generally maintains a low operating rate to alleviate the back-up pressure, and has different expectations for the market outlook. At present, the stalemate between buyers and sellers is difficult to be alleviated, the spot trading market is expected to continue to be thin and participants take a watchful stance.