Monthly Tungsten Market Report Mar 2021
2021-04-15 17:58:55 【Print】
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1. Market Highlights
In March, the Chinese tungsten market fluctuated downward. Most consumers had sufficient inventory around the Spring Festival, and their willingness to purchase was sluggish. The market was eager to realize profit and actively sold. In March, Chinese prices fell as a whole. Most mines were still under maintenance and the operating rate of producers was sluggish, so some traders cut prices. The prices of tungsten concentrate fell. APT 88.5%min producers mainly delivered long-term orders due to tight inventory and spot prices were firm, so traders cut prices due to bearish market outlook. In the first half of March, a small number of consumers replenished stocks. The plants kept prices firm due to saturation of orders. However, due to weak demand, the prices declined slightly in late March. The overall prices in international market showed an upward trend in March, and international demand was strong. In the first ten days of the month, the export volume of raw material showed obvious improvement. International buyers actively placed orders to prepare inventory and export suppliers raised their prices accordingly. The export prices of APT 88.5%min, tungsten oxide and tungsten powder showed an overall upward trend. Dragged down by the decline in Chinese prices in late March, the wait-and-see mood in international market rose. Export suppliers were optimistic about the market outlook and intended to raise prices. Export market prices stabilized in late March.
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In March, the Chinese tungsten market fluctuated downward. Most consumers had sufficient inventory around the Spring Festival, and their willingness to purchase was sluggish. The market was eager to realize profit and actively sold. In March, Chinese prices fell as a whole. Most mines were still under maintenance and the operating rate of producers was sluggish, so some traders cut prices. The prices of tungsten concentrate fell. APT 88.5%min producers mainly delivered long-term orders due to tight inventory and spot prices were firm, so traders cut prices due to bearish market outlook. In the first half of March, a small number of consumers replenished stocks. The plants kept prices firm due to saturation of orders. However, due to weak demand, the prices declined slightly in late March. The overall prices in international market showed an upward trend in March, and international demand was strong. In the first ten days of the month, the export volume of raw material showed obvious improvement. International buyers actively placed orders to prepare inventory and export suppliers raised their prices accordingly. The export prices of APT 88.5%min, tungsten oxide and tungsten powder showed an overall upward trend. Dragged down by the decline in Chinese prices in late March, the wait-and-see mood in international market rose. Export suppliers were optimistic about the market outlook and intended to raise prices. Export market prices stabilized in late March.
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