Monthly Tungsten Market Report Dec 2020
2021-01-13 17:37:13 【Print】
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1. Market Highlights
This month, driven by the upward price of tungsten concentrate, the overall price of tungsten products went up unilaterally in a stepwise manner. Tungsten concentrate mines held back from selling due to mine maintenance near the end of the year. Traders had difficulties in refilling stocks and suppliers increased prices to test the market. APT 88.5%min prices rose unilaterally supported by rising raw material prices and low inventory rate of the plants. Tungsten powder suppliers raised prices accordingly driven by the price increase of APT 88.5%min and supported by the increase in cemented carbide prices. The tungsten oxide market saw limited deals. Consumers maintained order-to-order purchases and prices increased supported by rising raw material prices. Ferrotungsten prices rose a bit. Although downstream steel mills purchased on orders, suppliers raised prices as the operating rate was low and the spot market saw tight supply because of the shortage of raw material. Driven by raw material prices, the tungsten scrap prices showed an upward trend. In the international market, due to the rising prices in Chinese market, bearish US dollar exchange rate from suppliers, the difficulty in ordering load cartridge, and rising international freight rates, APT 88.5%min, tungsten oxide and tungsten carbide powder exports and international prices were on the rise. Due to the approaching Christmas holiday, some international buyers waited on the sidelines some purchased according to orders. Thus, the market saw stable deals.
This month, driven by the upward price of tungsten concentrate, the overall price of tungsten products went up unilaterally in a stepwise manner. Tungsten concentrate mines held back from selling due to mine maintenance near the end of the year. Traders had difficulties in refilling stocks and suppliers increased prices to test the market. APT 88.5%min prices rose unilaterally supported by rising raw material prices and low inventory rate of the plants. Tungsten powder suppliers raised prices accordingly driven by the price increase of APT 88.5%min and supported by the increase in cemented carbide prices. The tungsten oxide market saw limited deals. Consumers maintained order-to-order purchases and prices increased supported by rising raw material prices. Ferrotungsten prices rose a bit. Although downstream steel mills purchased on orders, suppliers raised prices as the operating rate was low and the spot market saw tight supply because of the shortage of raw material. Driven by raw material prices, the tungsten scrap prices showed an upward trend. In the international market, due to the rising prices in Chinese market, bearish US dollar exchange rate from suppliers, the difficulty in ordering load cartridge, and rising international freight rates, APT 88.5%min, tungsten oxide and tungsten carbide powder exports and international prices were on the rise. Due to the approaching Christmas holiday, some international buyers waited on the sidelines some purchased according to orders. Thus, the market saw stable deals.
