Monthly Tungsten Market Report Sep 2020
2020-10-13 17:28:02 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
The price of tungsten products fell this month as a whole. Due to weak market demand and slow purchasing activities in the spot market, upstream and downstream participants held a pessimistic attitude towards the market outlook. Tungsten concentrate: As some suppliers were bearish about the market outlook and accepted slight concessions to facilitate transactions, the price of tungsten concentrate moved down and mine operating rates stabilized. Although most suppliers held a large amount of inventory, most of them held back from selling and waited on the sidelines.
APT: Due to the drop of tungsten concentrate price, APT suppliers were bearish about the market outlook and lowered their prices in order to collect funds. APT prices fell slightly in late September. However, due to the support of production costs, the downward space was limited. End consumers maintained purchases based on orders. In the international market: Driven by domestic prices, although the spot transactions in the international market did not see a significant improvement, suppliers had no intention to lower export prices. Export prices remained firm.
Tungsten powder: The price of tungsten powder fell in late September due to the high operating rate of producers, fierce market bidding, and the decline in raw material prices. Tungsten powder suppliers mostly held a large amount of inventory, and end consumers did not intend to replenish stocks with the lack of orders. The spot market saw limited transactions. In the international market: Due to frequent fluctuations in the US dollar exchange rate, export prices remained firm, and international buyers held a strong wait-and-see attitude because of weak demand.
Ferrotungsten: The spot market saw limited transactions. Affected by the price fluctuations of tungsten concentrate, end market demand continued to be sluggish, and the price of ferrotungsten was weak in moving up. End consumers mostly maintained purchases based on orders, but supported by raw material costs, the price of ferrotungsten remained stable weakly. In the international market: The price of ferrotungsten rose slightly. Due to the thin profit and the firm price in the Chinese market, suppliers raised their prices. However, end consumers had a weak willingness to purchase because of weak demand.
Tungsten oxide and tungsten bar: Due to the decline in raw material prices, the price of tungsten oxide and tungsten bar fell slightly, and the spot market saw limited transactions. In the international market: Due to weak market demand, the export volume remained low and slightly moved up from that in August. Due to the firm prices in the Chinese market, international buyers' enquiries were active, but the market saw limited transactions.
Tungsten scrap: Due to the decline in raw material prices, the overall tungsten scrap prices dropped slightly. The price of tungsten grinding sward scrap fell, and the spot prices of tungsten scrap drills, anvils, and CNC cutting blades moved down because of weak demand.
The price of tungsten products fell this month as a whole. Due to weak market demand and slow purchasing activities in the spot market, upstream and downstream participants held a pessimistic attitude towards the market outlook. Tungsten concentrate: As some suppliers were bearish about the market outlook and accepted slight concessions to facilitate transactions, the price of tungsten concentrate moved down and mine operating rates stabilized. Although most suppliers held a large amount of inventory, most of them held back from selling and waited on the sidelines.
APT: Due to the drop of tungsten concentrate price, APT suppliers were bearish about the market outlook and lowered their prices in order to collect funds. APT prices fell slightly in late September. However, due to the support of production costs, the downward space was limited. End consumers maintained purchases based on orders. In the international market: Driven by domestic prices, although the spot transactions in the international market did not see a significant improvement, suppliers had no intention to lower export prices. Export prices remained firm.
Tungsten powder: The price of tungsten powder fell in late September due to the high operating rate of producers, fierce market bidding, and the decline in raw material prices. Tungsten powder suppliers mostly held a large amount of inventory, and end consumers did not intend to replenish stocks with the lack of orders. The spot market saw limited transactions. In the international market: Due to frequent fluctuations in the US dollar exchange rate, export prices remained firm, and international buyers held a strong wait-and-see attitude because of weak demand.
Ferrotungsten: The spot market saw limited transactions. Affected by the price fluctuations of tungsten concentrate, end market demand continued to be sluggish, and the price of ferrotungsten was weak in moving up. End consumers mostly maintained purchases based on orders, but supported by raw material costs, the price of ferrotungsten remained stable weakly. In the international market: The price of ferrotungsten rose slightly. Due to the thin profit and the firm price in the Chinese market, suppliers raised their prices. However, end consumers had a weak willingness to purchase because of weak demand.
Tungsten oxide and tungsten bar: Due to the decline in raw material prices, the price of tungsten oxide and tungsten bar fell slightly, and the spot market saw limited transactions. In the international market: Due to weak market demand, the export volume remained low and slightly moved up from that in August. Due to the firm prices in the Chinese market, international buyers' enquiries were active, but the market saw limited transactions.
Tungsten scrap: Due to the decline in raw material prices, the overall tungsten scrap prices dropped slightly. The price of tungsten grinding sward scrap fell, and the spot prices of tungsten scrap drills, anvils, and CNC cutting blades moved down because of weak demand.
