Tungsten Market Report August 2011
2011-09-22 10:42:03 【Print】
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In August, bad news from the financial market which made world economy perspective unclear. In the beginning, Italy was the first target in the world financial market, and then credit rate decreased in US and Japan. Market participants worry that 2008 economic recession will come again.
Chinese tungsten market fell in the middle of the month after the degrading of US credit rate, but recovered as market regained confidence; prices rose back to the same level as it in the beginning of the month. The short supply of raw material re-appeared as people holding back from selling. Moreover, the power usage increased drastically in China this year, so some areas in Hunan were limited in power consumption; some smelters lowered productions in some parts of Southern China.
European summer holiday ends in the end of August. However, with uncertainties of the future market and reluctant to accept high prices, European consumers did not replenish stocks actively. Tungsten demand remains low. However, limited by export licenses, Chinese tungsten exporters refused to lower APT export prices and the foreign market was stagnant.
Chinese tungsten market fell in the middle of the month after the degrading of US credit rate, but recovered as market regained confidence; prices rose back to the same level as it in the beginning of the month. The short supply of raw material re-appeared as people holding back from selling. Moreover, the power usage increased drastically in China this year, so some areas in Hunan were limited in power consumption; some smelters lowered productions in some parts of Southern China.
European summer holiday ends in the end of August. However, with uncertainties of the future market and reluctant to accept high prices, European consumers did not replenish stocks actively. Tungsten demand remains low. However, limited by export licenses, Chinese tungsten exporters refused to lower APT export prices and the foreign market was stagnant.
