Monthly Tungsten Market Report Jun 2021
2021-07-14 18:10:56 【Print】
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1. Market Highlights
After a long-term sideways stalemate in June, the prices of tungsten began to rebound. As the supply of tungsten concentrates in the market was limited as a whole and tungsten concentrate suppliers held back from selling due to the loose financial environment, APT 88.5%min producers had more long-term orders due to limited spot stocks. The spot market supply tightened and prices showed an upward trend in late June. Driven by rising commodity prices and the overall increase in raw material prices, tungsten powder suppliers had to keep up with the price hikes. However, downstream consumers mostly maintained order-to-order purchases. Most cemented carbide plants made a small volume of replenishment at around RMB225/kg (USD34.69/kg) and purchased inactively towards the price above RMB230/kg (USD35.46/kg). Driven by rising raw material prices, cemented carbide plants intended to increase alloy prices. However, due to the approaching market off-season, the market demand from downstream end users was weak. Although plants issued price adjustment letters one after another, the actual market demand remained to be seen. Driven by rising Chinese prices, export suppliers raised their export quotations accordingly, and export prices of tungsten products showed an upward trend. However, the shortage of containers and the long-term high international freight rates resulted in relatively tight supply in the international market. International buyers maintained order-to-order purchases due to rapid price increases, and the international market saw stable deals.
After a long-term sideways stalemate in June, the prices of tungsten began to rebound. As the supply of tungsten concentrates in the market was limited as a whole and tungsten concentrate suppliers held back from selling due to the loose financial environment, APT 88.5%min producers had more long-term orders due to limited spot stocks. The spot market supply tightened and prices showed an upward trend in late June. Driven by rising commodity prices and the overall increase in raw material prices, tungsten powder suppliers had to keep up with the price hikes. However, downstream consumers mostly maintained order-to-order purchases. Most cemented carbide plants made a small volume of replenishment at around RMB225/kg (USD34.69/kg) and purchased inactively towards the price above RMB230/kg (USD35.46/kg). Driven by rising raw material prices, cemented carbide plants intended to increase alloy prices. However, due to the approaching market off-season, the market demand from downstream end users was weak. Although plants issued price adjustment letters one after another, the actual market demand remained to be seen. Driven by rising Chinese prices, export suppliers raised their export quotations accordingly, and export prices of tungsten products showed an upward trend. However, the shortage of containers and the long-term high international freight rates resulted in relatively tight supply in the international market. International buyers maintained order-to-order purchases due to rapid price increases, and the international market saw stable deals.
