Monthly Tungsten Market Report Nov 2020
2020-12-16 15:52:20 【Print】
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1. Market Highlights
The tungsten prices slowly moved up this month. Tungsten concentrate: Domestic suppliers held back from selling supported by cost and some suppliers raised prices to explore the market. Downstream APT plants were cautious in entering the market due to weak demand and the spot market saw limited deals.
APT: Although downstream tungsten powder producers only maintained order-to-order purchases due to weak demand, APT producers had to raise their prices slightly, causing APT prices to rise slightly. In the international market, driven by domestic prices and affected by the backlog of containers and rising export freight rates, domestic suppliers intended to raise prices, so export prices remained firm.
Tungsten powder: Domestic tungsten powder producers had high operating rates and downstream consumers were bearish about the market outlook due to weak demand and mostly maintained order-to-order purchases. However, supported by the firm APT price, tungsten powder suppliers raised prices. In the international market, due to rising domestic prices and falling dollar exchange rate, export suppliers kept their quotations firm, but the market saw limited deals.
Ferrotungsten: Driven by rising tungsten concentrate prices and affected by production suspension and reduction of some domestic suppliers, ferrotungsten suppliers raised prices. Downstream steel mills invited bids frequently, so the spot market saw active deals. In the international market, supported by the firm export price of Chinese ferrotungsten, European and Russian suppliers raised their prices and international market prices rose.
Tungsten oxide and tungsten bar: Supported by rising raw material prices, suppliers raised prices and end consumers only maintained order-to-order purchases. In the international market, although the international market saw limited deals, supported by rising export costs, export suppliers held their prices firm.
Tungsten scrap: Supported by rising raw material prices, the price of tungsten scrap showed an overall upward trend. However, downstream consumers had a strong wait-and-see attitude, so the spot market saw limited deals.
The tungsten prices slowly moved up this month. Tungsten concentrate: Domestic suppliers held back from selling supported by cost and some suppliers raised prices to explore the market. Downstream APT plants were cautious in entering the market due to weak demand and the spot market saw limited deals.
APT: Although downstream tungsten powder producers only maintained order-to-order purchases due to weak demand, APT producers had to raise their prices slightly, causing APT prices to rise slightly. In the international market, driven by domestic prices and affected by the backlog of containers and rising export freight rates, domestic suppliers intended to raise prices, so export prices remained firm.
Tungsten powder: Domestic tungsten powder producers had high operating rates and downstream consumers were bearish about the market outlook due to weak demand and mostly maintained order-to-order purchases. However, supported by the firm APT price, tungsten powder suppliers raised prices. In the international market, due to rising domestic prices and falling dollar exchange rate, export suppliers kept their quotations firm, but the market saw limited deals.
Ferrotungsten: Driven by rising tungsten concentrate prices and affected by production suspension and reduction of some domestic suppliers, ferrotungsten suppliers raised prices. Downstream steel mills invited bids frequently, so the spot market saw active deals. In the international market, supported by the firm export price of Chinese ferrotungsten, European and Russian suppliers raised their prices and international market prices rose.
Tungsten oxide and tungsten bar: Supported by rising raw material prices, suppliers raised prices and end consumers only maintained order-to-order purchases. In the international market, although the international market saw limited deals, supported by rising export costs, export suppliers held their prices firm.
Tungsten scrap: Supported by rising raw material prices, the price of tungsten scrap showed an overall upward trend. However, downstream consumers had a strong wait-and-see attitude, so the spot market saw limited deals.
