Monthly Tungsten Market Report Oct 2021
2021-11-12 18:04:11 【Print】
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1. Market Highlights
On the Chinese market, tungsten prices edged up in October. With production costs increased while suppliers worried that power restriction policy might affect APT production, APT producers raised their prices. Boosted by this, tungsten concentrate prices moved up accordingly. But most consumers already finished purchases and end market demand was not strong enough, so the tungsten concentrate market was surrounded by a strong watchful sentiment with limited deals concluded. Overall tungsten prices tended to stabilize in the last ten days of October. Downstream tungsten powder market saw few deals, and cemented carbide prices had difficulty in moving up. Most consumers refused to purchase raw materials at high prices,, so the tungsten powder market saw few deals.
On the international market, given fluctuating USD exchange rates and unsmooth marine transportation, international buyers showed low interest in making purchases and most of them only made hand-to-mouth purchases. As a result, most deals concluded on the Chinese tungsten export market were rigid-demand transactions. As prices stayed at a high level, international buyers were cautious in making purchases. As a result, the European and US markets ran slowly and most local buyers had no intention to prepare stocks at high prices; and the Japanese and South Korean markets were comparatively active and consumers made steady purchases.
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On the Chinese market, tungsten prices edged up in October. With production costs increased while suppliers worried that power restriction policy might affect APT production, APT producers raised their prices. Boosted by this, tungsten concentrate prices moved up accordingly. But most consumers already finished purchases and end market demand was not strong enough, so the tungsten concentrate market was surrounded by a strong watchful sentiment with limited deals concluded. Overall tungsten prices tended to stabilize in the last ten days of October. Downstream tungsten powder market saw few deals, and cemented carbide prices had difficulty in moving up. Most consumers refused to purchase raw materials at high prices,, so the tungsten powder market saw few deals.
On the international market, given fluctuating USD exchange rates and unsmooth marine transportation, international buyers showed low interest in making purchases and most of them only made hand-to-mouth purchases. As a result, most deals concluded on the Chinese tungsten export market were rigid-demand transactions. As prices stayed at a high level, international buyers were cautious in making purchases. As a result, the European and US markets ran slowly and most local buyers had no intention to prepare stocks at high prices; and the Japanese and South Korean markets were comparatively active and consumers made steady purchases.
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