Monthly Tungsten Market Report Aug 2020
2020-09-11 16:04:45 【Print】
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1. Market Highlights
The tungsten product market rose steadily this month. Supported by the upstream raw material prices, prices continued to rise. The end users only purchased based on orders due to weak demand. Tungsten concentrate: The operating rate of mines remained stable MOM, but declined slightly YOY. In addition, the relatively loose funding environment led to the lack of willingness of suppliers to sell, and the suppliers held back from selling due to bullish outlook. The spot market saw limited transactions and prices rose slightly. The end users purchased based on orders to maintain production.
APT: Despite the weak downstream demand for tungsten powder, driven by the continuous increase in tungsten concentrate prices, APT suppliers increased their prices in order to reduce the losses. The end consumers maintained purchases based on orders and had a weak willingness to replenish stocks due to a bearish outlook. In the international market, driven by rising domestic prices and falling US dollar exchange rate, the prices in the export and international market rose.
Tungsten powder: As the orders from downstream alloy plants did not increased, insiders held a wait-and-see attitude towards the increase in raw material prices. In the first half of August, prices for tungsten powder and tungsten carbide powder remained stable weakly. However, considering that prices for tungsten concentrate continued to rise and prices for APT increased accordingly, in order to avoid losses, prices for tungsten powder rose. In the international market, due to weak international demand during the summer break in August, export transactions declined. Supported by rising domestic raw material prices, prices remained stable. Raw material prices rose sharply in late August and traders raised export prices.
Ferrotungsten: The demand for ferrotungsten was weak, leading to limited spot transactions. However, in August, the operating rate of plants was sluggish and prices for tungsten concentrate continued to rise. Suppliers had no intention to lower prices for promotions, and prices remained stable. In the international market, due to sufficient supply, suppliers had fierce competition and prices maintained the downward trend of July.
Tungsten oxide and tungsten bar: Despite the limited transactions in tungsten bar and tungsten oxide market, producers maintained production based on orders and consumers maintained purchases on need. Driven by the rising prices of tungsten concentrate and APT, prices for downstream tungsten products increased accordingly. In the international market, supported by rising domestic prices and suppliers' bearish outlook on the U.S. dollar exchange rate, export prices rose.
Tungsten scrap: The market prices for tungsten scrap generally rose. The spot supply of tungsten grinding sward scrap was still tight. Traders did not intend to replenish stocks due to the bearish outlook, so the spot market saw limited transaction. Due to the rise in tungsten concentrate prices, suppliers raised their prices. Prices for tungsten scrap drills, anvils, and CNC cutting blades rose slightly overall.
The tungsten product market rose steadily this month. Supported by the upstream raw material prices, prices continued to rise. The end users only purchased based on orders due to weak demand. Tungsten concentrate: The operating rate of mines remained stable MOM, but declined slightly YOY. In addition, the relatively loose funding environment led to the lack of willingness of suppliers to sell, and the suppliers held back from selling due to bullish outlook. The spot market saw limited transactions and prices rose slightly. The end users purchased based on orders to maintain production.
APT: Despite the weak downstream demand for tungsten powder, driven by the continuous increase in tungsten concentrate prices, APT suppliers increased their prices in order to reduce the losses. The end consumers maintained purchases based on orders and had a weak willingness to replenish stocks due to a bearish outlook. In the international market, driven by rising domestic prices and falling US dollar exchange rate, the prices in the export and international market rose.
Tungsten powder: As the orders from downstream alloy plants did not increased, insiders held a wait-and-see attitude towards the increase in raw material prices. In the first half of August, prices for tungsten powder and tungsten carbide powder remained stable weakly. However, considering that prices for tungsten concentrate continued to rise and prices for APT increased accordingly, in order to avoid losses, prices for tungsten powder rose. In the international market, due to weak international demand during the summer break in August, export transactions declined. Supported by rising domestic raw material prices, prices remained stable. Raw material prices rose sharply in late August and traders raised export prices.
Ferrotungsten: The demand for ferrotungsten was weak, leading to limited spot transactions. However, in August, the operating rate of plants was sluggish and prices for tungsten concentrate continued to rise. Suppliers had no intention to lower prices for promotions, and prices remained stable. In the international market, due to sufficient supply, suppliers had fierce competition and prices maintained the downward trend of July.
Tungsten oxide and tungsten bar: Despite the limited transactions in tungsten bar and tungsten oxide market, producers maintained production based on orders and consumers maintained purchases on need. Driven by the rising prices of tungsten concentrate and APT, prices for downstream tungsten products increased accordingly. In the international market, supported by rising domestic prices and suppliers' bearish outlook on the U.S. dollar exchange rate, export prices rose.
Tungsten scrap: The market prices for tungsten scrap generally rose. The spot supply of tungsten grinding sward scrap was still tight. Traders did not intend to replenish stocks due to the bearish outlook, so the spot market saw limited transaction. Due to the rise in tungsten concentrate prices, suppliers raised their prices. Prices for tungsten scrap drills, anvils, and CNC cutting blades rose slightly overall.
