Monthly Tungsten Market Report Jan 2021
2021-02-04 18:31:45 【Print】
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1. Market Highlights
Tungsten prices continued to show a unilateral upward trend this month. As the Spring Festival approached, some tungsten concentrate suppliers held back from selling due to the continuous production suspension and maintenance of plant. Thus, it was difficult to purchase from the spot market and some suppliers raised prices to test the market. Supported by the upward trend of tungsten concentrate prices, APT 88.5%min plants raised prices owing to tight spot inventory and plants entered the stage of production suspension. Supported by the price increase of APT 88.5%min, powder plants raised the price accordingly. Most downstream sellers completed their purchase plans and waited on the sidelines after the Spring Festival. Thus, the spot market saw inactive purchases. Supported by rising tungsten concentrate prices, ferrotungsten suppliers raised their prices accordingly and downstream steel mills maintained order-to-order purchases. Driven by rising raw material prices and optimistic expectations for the market outlook, tungsten scrap prices fluctuated and rose slightly. In international market, driven by rising prices of raw materials in China and stable purchases by buyers in international market, APT 88.5%min, tungsten oxide and tungsten carbide powder export prices were on the rise. The dollar exchange rate fluctuated at a low level and international freight rates hovered at a high level. The cost supports suppliers to increase prices to test the market, but as the Spring Festival holiday approaches, some international buyers preferred to wait on the sidelines and delayed purchases.
Tungsten prices continued to show a unilateral upward trend this month. As the Spring Festival approached, some tungsten concentrate suppliers held back from selling due to the continuous production suspension and maintenance of plant. Thus, it was difficult to purchase from the spot market and some suppliers raised prices to test the market. Supported by the upward trend of tungsten concentrate prices, APT 88.5%min plants raised prices owing to tight spot inventory and plants entered the stage of production suspension. Supported by the price increase of APT 88.5%min, powder plants raised the price accordingly. Most downstream sellers completed their purchase plans and waited on the sidelines after the Spring Festival. Thus, the spot market saw inactive purchases. Supported by rising tungsten concentrate prices, ferrotungsten suppliers raised their prices accordingly and downstream steel mills maintained order-to-order purchases. Driven by rising raw material prices and optimistic expectations for the market outlook, tungsten scrap prices fluctuated and rose slightly. In international market, driven by rising prices of raw materials in China and stable purchases by buyers in international market, APT 88.5%min, tungsten oxide and tungsten carbide powder export prices were on the rise. The dollar exchange rate fluctuated at a low level and international freight rates hovered at a high level. The cost supports suppliers to increase prices to test the market, but as the Spring Festival holiday approaches, some international buyers preferred to wait on the sidelines and delayed purchases.
