Monthly Tungsten Market Report Jul 2020
2020-08-13 17:57:07 【Print】
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1. Market Highlights
The tungsten product market rose steadily this month. The overall prices remained firm supported by the firm raw material prices . The end users only purchased based on orders due to weak demand . Tungsten concentrate: Due to thin profits and the bullish market outlook, producers strongly held back from selling . The tungsten concentrate output in July decreased slightly by 5% YOY . The spot market saw tight supply, and suppliers raised prices . The international market saw limited transactions, and prices for tungsten concentrate fell slightly due to weak demand.
APT: Although the demand from downstream powder plants was not strong, supported by rising tungsten concentrate prices, the production cost of APT was much higher than the market price in the past two months. Most producers were unable to bear the pressure of production cost . Following the price trend of tungsten concentrate, the overall prices showed a rising trend . Although buyers in the international market still maintained purchases based on orders and waited on the sidelines due to the sluggish operating rate, the market saw limited transactions . However, supported by the firm prices in the Chinese market, the overall prices in the export and international market remained firm.
Tungsten powder: There was no sign of improvement in the demand of downstream alloy plants in July. They only maintained purchases based on orders . However, supported by the firm price of raw material APT, prices for tungsten powder and tungsten carbide powder rose, and alloy plants could accept low prices due to weak demand . The orders from alloy factories in the international market decreased, leading to a strong wait-and-see outlook . The market saw limited transactions, and export volume of tungsten carbide powder fell by about 10% MOM.
Ferrotungsten: Due to weak market demand, prices for ferrotungsten were weak in moving up. However, supported by rising tungsten concentrate prices, suppliers had no intention to continue to cut prices and prices remained stalemate . As the operating rate of ferrotungsten plants remained sluggish, ferrotungsten prices showed an upward trend in late July . Due to sufficient market supply but weak demand in the international market, competition among suppliers was fierce, and ferrotungsten prices fell again and again.
Tungsten oxide and tungsten bar: The spot market saw limited transaction. Consumers maintained purchases based on orders and producers produced based on orders . Although the market saw limited transactions, prices for tungsten oxide and tungsten bar rose slightly due to rising raw material prices . The international market still saw limited transactions, and there was no significant fluctuation in export and international market prices.
Tungsten scrap: The overall tungsten scrap market ran slowly, and the spot market saw slowing buying activities. The upstream and downstream participants were not willing to replenish stocks and purchased cautiously to watch the market outlook . Taking into account the support of firm costs, the prices for tungsten scrap were difficult to drop.
The tungsten product market rose steadily this month. The overall prices remained firm supported by the firm raw material prices . The end users only purchased based on orders due to weak demand . Tungsten concentrate: Due to thin profits and the bullish market outlook, producers strongly held back from selling . The tungsten concentrate output in July decreased slightly by 5% YOY . The spot market saw tight supply, and suppliers raised prices . The international market saw limited transactions, and prices for tungsten concentrate fell slightly due to weak demand.
APT: Although the demand from downstream powder plants was not strong, supported by rising tungsten concentrate prices, the production cost of APT was much higher than the market price in the past two months. Most producers were unable to bear the pressure of production cost . Following the price trend of tungsten concentrate, the overall prices showed a rising trend . Although buyers in the international market still maintained purchases based on orders and waited on the sidelines due to the sluggish operating rate, the market saw limited transactions . However, supported by the firm prices in the Chinese market, the overall prices in the export and international market remained firm.
Tungsten powder: There was no sign of improvement in the demand of downstream alloy plants in July. They only maintained purchases based on orders . However, supported by the firm price of raw material APT, prices for tungsten powder and tungsten carbide powder rose, and alloy plants could accept low prices due to weak demand . The orders from alloy factories in the international market decreased, leading to a strong wait-and-see outlook . The market saw limited transactions, and export volume of tungsten carbide powder fell by about 10% MOM.
Ferrotungsten: Due to weak market demand, prices for ferrotungsten were weak in moving up. However, supported by rising tungsten concentrate prices, suppliers had no intention to continue to cut prices and prices remained stalemate . As the operating rate of ferrotungsten plants remained sluggish, ferrotungsten prices showed an upward trend in late July . Due to sufficient market supply but weak demand in the international market, competition among suppliers was fierce, and ferrotungsten prices fell again and again.
Tungsten oxide and tungsten bar: The spot market saw limited transaction. Consumers maintained purchases based on orders and producers produced based on orders . Although the market saw limited transactions, prices for tungsten oxide and tungsten bar rose slightly due to rising raw material prices . The international market still saw limited transactions, and there was no significant fluctuation in export and international market prices.
Tungsten scrap: The overall tungsten scrap market ran slowly, and the spot market saw slowing buying activities. The upstream and downstream participants were not willing to replenish stocks and purchased cautiously to watch the market outlook . Taking into account the support of firm costs, the prices for tungsten scrap were difficult to drop.