Monthly Tungsten Market Report May 2021
2021-06-15 16:37:38 【Print】
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In May, the tungsten market remained stagnant and stable, with the upstream raw materials and downstream market demand in a stalemate game
In international market, the market saw relatively active deals in early May. Due to the long-term high prices, prices for APT 88.5%min stayed firm at around USD270/mtu, and the tungsten carbide powder prices remained firm at around USD36/kg . International buyers tended to consume inventory . Due to the risks of high international freight rates and hidden risks of the US dollar exchange rate, suppliers had a strong sentiment for prices, and the market saw gradually limited deals in late May . On the whole, the domestic and international tungsten market was only deadlocked in May . In the context of the tightening of the national economic policies, the demand side determined the market price trend under the competition between supply and demand.
. Tungsten ore mines held their prices firm due to limited inventory, and traders held back from selling due to the bullish market outlook . Due to the long-term stalemate, the prices of tungsten product gradually narrowed. The overall prices of tungsten concentrate remained stable at around RMB96,000/t (USD14,806/t) EXW D/P . It's difficult to sell at high prices and hard to purchase at low prices . Supported by the firm prices of tungsten concentrate, the APT 88.5%min prices stayed at RMB146,000/t (USD22,518/t) EXW D/P under the premise of limited inventory. Consumers waited on the sidelines towards the price higher than RMB147,000/t (USD22,672/t) and suppliers had no intention to sell at less than RMB146,000/t (USD22,518/t) . The overall powder market was weak. Due to the weakening of long-term cemented carbide plants orders and the lack of demand momentum to support the upward price, consumers had a strong wait-and-see mood for tungsten powder above RMB220/kg (USD33.93/kg) EXW D/P . They only maintained order-to-order purchases, and the prices of tungsten powder slowly weakened.In international market, the market saw relatively active deals in early May. Due to the long-term high prices, prices for APT 88.5%min stayed firm at around USD270/mtu, and the tungsten carbide powder prices remained firm at around USD36/kg . International buyers tended to consume inventory . Due to the risks of high international freight rates and hidden risks of the US dollar exchange rate, suppliers had a strong sentiment for prices, and the market saw gradually limited deals in late May . On the whole, the domestic and international tungsten market was only deadlocked in May . In the context of the tightening of the national economic policies, the demand side determined the market price trend under the competition between supply and demand.