Monthly Tungsten Market Report Aug 2023
2023-09-15 17:29:13 【Print】
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1. Market Highlights
In August, tungsten prices in China fluctuated generally in a ladder form. As some producers suspended production for equipment maintenance in late August, the tungsten market saw tight supply and firm prices of raw materials. In August, tungsten prices touched the bottom and began to rebound. Consumers made rigid-demand purchases and the market saw mildly growing deals. This month, most tungsten concentrate suppliers were in no hurry to make sales with a view of keeping their prices firm, and tungsten concentrate prices rebounded to around RMB120,000/t (USD16,494/t). In August, boosted by firm tungsten concentrate prices, APT88.5%min prices moved back to over RMB180,000/t (USD24,741/t), while most consumers maintained purchases via long-term orders with limited deals concluded on the spot market. In August, the tungsten carbide powder market saw growing deals. Seeing raw material prices rebounded after touching the bottom, cemented carbide producers set out to replenish their raw material stocks, and the tungsten carbide powder market saw active deals. Prices for tungsten powder and tungsten carbide powder moved up slightly in August. This month, boosted by rising raw material prices, ferrotungsten prices leveled off and suppliers kept their offers firm. But steel mills maintained hand-to-mouth purchases and the market saw generally limited deals. In August, tungsten scrap prices edged up. Given firm raw material prices and tight spot supply, tungsten scrap suppliers kept offers firm, while consumes commonly made hand-to-mouth purchases, leading to limited deals on the market. On the international market this month, the European market was in the off season, so market demand was soft, and there were no notable growths in tungsten purchases. Export prices for Chinese tungsten products edged down, and overseas buyers felt low confidence in market outlook and therefore preferred to make rigid-demand purchases, leading to limited deals on the international tungsten market.
In August, tungsten prices in China fluctuated generally in a ladder form. As some producers suspended production for equipment maintenance in late August, the tungsten market saw tight supply and firm prices of raw materials. In August, tungsten prices touched the bottom and began to rebound. Consumers made rigid-demand purchases and the market saw mildly growing deals. This month, most tungsten concentrate suppliers were in no hurry to make sales with a view of keeping their prices firm, and tungsten concentrate prices rebounded to around RMB120,000/t (USD16,494/t). In August, boosted by firm tungsten concentrate prices, APT88.5%min prices moved back to over RMB180,000/t (USD24,741/t), while most consumers maintained purchases via long-term orders with limited deals concluded on the spot market. In August, the tungsten carbide powder market saw growing deals. Seeing raw material prices rebounded after touching the bottom, cemented carbide producers set out to replenish their raw material stocks, and the tungsten carbide powder market saw active deals. Prices for tungsten powder and tungsten carbide powder moved up slightly in August. This month, boosted by rising raw material prices, ferrotungsten prices leveled off and suppliers kept their offers firm. But steel mills maintained hand-to-mouth purchases and the market saw generally limited deals. In August, tungsten scrap prices edged up. Given firm raw material prices and tight spot supply, tungsten scrap suppliers kept offers firm, while consumes commonly made hand-to-mouth purchases, leading to limited deals on the market. On the international market this month, the European market was in the off season, so market demand was soft, and there were no notable growths in tungsten purchases. Export prices for Chinese tungsten products edged down, and overseas buyers felt low confidence in market outlook and therefore preferred to make rigid-demand purchases, leading to limited deals on the international tungsten market.
