Monthly Tungsten Market Report Jul 2021
2021-08-13 16:35:53 【Print】
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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.