Monthly Tungsten Market Report Jul 2021
2021-08-13 16:35:53 【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 July, the prices of tungsten maintained an upward trend as a whole, but the market saw strong wait-and-see sentiment. The upstream tungsten concentrate suppliers held back from selling, and some of them raised prices to test the market. The prices rose to RMB112,000-113,000/t (USD17,268-17,422/t) EXW D/P, and mine supply of tungsten ore was still tight. Supported by the firm prices of tungsten concentrate, the prices of APT 88.5%min rose to RMB170,000/t (USD26,211/t). Due to the limited supply of raw materials, the spot market supply of APT 88.5%min was tight. The tungsten powder plants did not intend to purchase in large quantities due to the weak demand for downstream cemented carbide, and the wait-and-see sentiment was strong. However, supported by the rising raw material prices, the prices of tungsten powder rose to RMB260/kg (USD40.09/kg) EXW D/P. Due to the weak market demand for cemented carbide in the off-season, the demand for tools was stable, but the demand for geology and minerals was slightly weak. In the international market, due to Chinese prices continued to rise and the spot supply was limited, the US dollar exchange rate was likely to weaken. Export suppliers intended to increase prices. In addition to the high international freight rates, market supplies became tight. International buyers purchased steadily due to limited inventory and demand in the international market. The overall situation remained stable.
In July, the prices of tungsten maintained an upward trend as a whole, but the market saw strong wait-and-see sentiment. The upstream tungsten concentrate suppliers held back from selling, and some of them raised prices to test the market. The prices rose to RMB112,000-113,000/t (USD17,268-17,422/t) EXW D/P, and mine supply of tungsten ore was still tight. Supported by the firm prices of tungsten concentrate, the prices of APT 88.5%min rose to RMB170,000/t (USD26,211/t). Due to the limited supply of raw materials, the spot market supply of APT 88.5%min was tight. The tungsten powder plants did not intend to purchase in large quantities due to the weak demand for downstream cemented carbide, and the wait-and-see sentiment was strong. However, supported by the rising raw material prices, the prices of tungsten powder rose to RMB260/kg (USD40.09/kg) EXW D/P. Due to the weak market demand for cemented carbide in the off-season, the demand for tools was stable, but the demand for geology and minerals was slightly weak. In the international market, due to Chinese prices continued to rise and the spot supply was limited, the US dollar exchange rate was likely to weaken. Export suppliers intended to increase prices. In addition to the high international freight rates, market supplies became tight. International buyers purchased steadily due to limited inventory and demand in the international market. The overall situation remained stable.
