Monthly Tungsten Market Report Oct 2020
2020-11-13 18:10:27 【Print】
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1. Market Highlights
The tungsten market was in a downturn this month. Due to the downward trend in prices and the lack of strong demand, the market had strong wait-and-see sentiment and saw limited transactions. Tungsten concentrate: As the price of tungsten concentrate approached production costs, suppliers held prices firm. Dragged down by the decline in downstream APT prices, the price of tungsten concentrate weakened slightly; in the international market, the tungsten concentrate market saw limited transactions, and the African market held prices firm due to tight supply. However, downstream users had a strong wait-and-see mood due to weak demand.
APT: Due to the overall downward trend in prices, the downstream users had a strong wait-and-see sentiment, and consumers lowered prices to purchase. Suppliers had to make small price concessions to facilitate transactions. Due to the overall weakening of domestic prices and the lack of enquiries and transactions in the international market, export suppliers made slight price cuts to facilitate transactions. However, considering the risk of further decline in the US dollar exchange rate, suppliers held prices firm obviously.
Tungsten powder: Due to the decline in APT prices and inactive transactions in the market, suppliers had to lower their prices to gain more orders. Due to limited transactions in the international market and declining domestic prices, some export suppliers made slight price cuts to facilitate transactions.
Ferrotungsten: The overall operation of the ferrotungsten market was slow. Because downstream steel mills only maintained order-to-order purchases, and considering the decline in tungsten concentrate prices, ferrotungsten suppliers accepted small counteroffers to promote transactions, and the overall price of ferrotungsten dropped slightly; in the international market, the export market saw limited transactions, and the willingness of international buyers to purchase was sluggish due to weak demand, so the market operated slowly.
Tungsten oxide and tungsten bar: Dragged down by the decline in raw material prices, prices for tungsten oxide and tungsten bar fell slightly, and end consumers only maintained order-to-order purchases. In the international market, the export market was mostly dominated by regular customers, and the market ran slow.
Tungsten scrap: Due to the downward trend in the price of raw materials, the overall tungsten scrap market weakened and participants strongly waited on the sidelines. Thus, the spot market saw limited transaction.
The tungsten market was in a downturn this month. Due to the downward trend in prices and the lack of strong demand, the market had strong wait-and-see sentiment and saw limited transactions. Tungsten concentrate: As the price of tungsten concentrate approached production costs, suppliers held prices firm. Dragged down by the decline in downstream APT prices, the price of tungsten concentrate weakened slightly; in the international market, the tungsten concentrate market saw limited transactions, and the African market held prices firm due to tight supply. However, downstream users had a strong wait-and-see mood due to weak demand.
APT: Due to the overall downward trend in prices, the downstream users had a strong wait-and-see sentiment, and consumers lowered prices to purchase. Suppliers had to make small price concessions to facilitate transactions. Due to the overall weakening of domestic prices and the lack of enquiries and transactions in the international market, export suppliers made slight price cuts to facilitate transactions. However, considering the risk of further decline in the US dollar exchange rate, suppliers held prices firm obviously.
Tungsten powder: Due to the decline in APT prices and inactive transactions in the market, suppliers had to lower their prices to gain more orders. Due to limited transactions in the international market and declining domestic prices, some export suppliers made slight price cuts to facilitate transactions.
Ferrotungsten: The overall operation of the ferrotungsten market was slow. Because downstream steel mills only maintained order-to-order purchases, and considering the decline in tungsten concentrate prices, ferrotungsten suppliers accepted small counteroffers to promote transactions, and the overall price of ferrotungsten dropped slightly; in the international market, the export market saw limited transactions, and the willingness of international buyers to purchase was sluggish due to weak demand, so the market operated slowly.
Tungsten oxide and tungsten bar: Dragged down by the decline in raw material prices, prices for tungsten oxide and tungsten bar fell slightly, and end consumers only maintained order-to-order purchases. In the international market, the export market was mostly dominated by regular customers, and the market ran slow.
Tungsten scrap: Due to the downward trend in the price of raw materials, the overall tungsten scrap market weakened and participants strongly waited on the sidelines. Thus, the spot market saw limited transaction.
