Monthly Tungsten Market Report Sep 2021
2021-10-29 18:19:41 【Print】
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1. Market Highlights
In September, the Chinese tungsten market kept fluctuating with prices moving up at end of this month. The month of September witnessed a country-wide power supply restriction and carbon neutrality sentiment in China, so supply of chemical raw materials tightened and prices moved up notably. Boosted by this situation, APT 88.5%min prices moved up and tungsten concentrate suppliers kept prices firm as spot supply was tight. Consumers from downstream cemented carbide plants showed weak demand and most plants had no intention to prepare stocks in large quantities at current prices, so the tungsten powder market saw limited deals. But worrying that prices would rise further, in mid-to-late September some consumers entered the market to make purchases, but deals were still lower than in previous time. Consumers from downstream cemented carbide plants felt pessimistic about demand outlook in Q4 and made only hand-to-mouth purchases, leading to limited deals on the market.
On the international market, the export and international market for tungsten raw materials saw inactive deals in September. Though prices in the Chinese domestic market were firm and suppliers intended to keep prices unchanged, the international market still saw uncertain factors as the COVID-19 lingered and international transportation took a long time, so most consumers took a wait-and-see attitude.
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In September, the Chinese tungsten market kept fluctuating with prices moving up at end of this month. The month of September witnessed a country-wide power supply restriction and carbon neutrality sentiment in China, so supply of chemical raw materials tightened and prices moved up notably. Boosted by this situation, APT 88.5%min prices moved up and tungsten concentrate suppliers kept prices firm as spot supply was tight. Consumers from downstream cemented carbide plants showed weak demand and most plants had no intention to prepare stocks in large quantities at current prices, so the tungsten powder market saw limited deals. But worrying that prices would rise further, in mid-to-late September some consumers entered the market to make purchases, but deals were still lower than in previous time. Consumers from downstream cemented carbide plants felt pessimistic about demand outlook in Q4 and made only hand-to-mouth purchases, leading to limited deals on the market.
On the international market, the export and international market for tungsten raw materials saw inactive deals in September. Though prices in the Chinese domestic market were firm and suppliers intended to keep prices unchanged, the international market still saw uncertain factors as the COVID-19 lingered and international transportation took a long time, so most consumers took a wait-and-see attitude.
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