Monthly Tungsten Market Report Feb 2021
2021-03-15 17:58:05 【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
In the first half of February, during the Spring Festival holiday, the upstream and downstream participants were off the market. The market ran smoothly. APT 88.5%min consumers maintained on order-to-order due to the firm raw material prices. During the Spring Festival, most plants shut down for maintenance and the stocks were not sufficient. Because the cemented carbide plant orders were full before the holiday, the powder plants' operating rate was relatively sufficient. Supported by the firm prices of raw materials, the prices of tungsten powder remained firm. In the second half of February, with the sluggish operating rate of mines and APT plants after the Spring Festival, tungsten concentrate suppliers kept the prices firm to test the market. Some traders raised their prices due to the bullish outlook. APT prices rose slightly supported by the firm raw material prices and tungsten powder prices increased accordingly, but the spot market saw limited deals. In the international market, supported by the firm prices of tungsten concentrate and APT 88.5%min in Chinese market, export suppliers raised export prices. In February, due to the inflation in international market, steady economic recovery, and the depreciation of the US dollar, suppliers in international market raised prices, and downstream consumers maintained order-to-order purchases. Thus, APT and tungsten oxide prices in European and American markets rose.
In the first half of February, during the Spring Festival holiday, the upstream and downstream participants were off the market. The market ran smoothly. APT 88.5%min consumers maintained on order-to-order due to the firm raw material prices. During the Spring Festival, most plants shut down for maintenance and the stocks were not sufficient. Because the cemented carbide plant orders were full before the holiday, the powder plants' operating rate was relatively sufficient. Supported by the firm prices of raw materials, the prices of tungsten powder remained firm. In the second half of February, with the sluggish operating rate of mines and APT plants after the Spring Festival, tungsten concentrate suppliers kept the prices firm to test the market. Some traders raised their prices due to the bullish outlook. APT prices rose slightly supported by the firm raw material prices and tungsten powder prices increased accordingly, but the spot market saw limited deals. In the international market, supported by the firm prices of tungsten concentrate and APT 88.5%min in Chinese market, export suppliers raised export prices. In February, due to the inflation in international market, steady economic recovery, and the depreciation of the US dollar, suppliers in international market raised prices, and downstream consumers maintained order-to-order purchases. Thus, APT and tungsten oxide prices in European and American markets rose.
