Monthly Tungsten Market Report Feb 2022
2022-03-18 18:11:31 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
The Chinese Spring Festival holiday fell in early February. With the holiday coming to an end, the tungsten market saw tight spot supply, so suppliers lifted prices to check market responses, while most consumers already finished replenishing raw materials for the holiday period, so the market saw weak demand and suppliers cut prices to promote sales, leading to slightly dropping tungsten prices in late February. Downstream consumers held relatively sufficient stocks and had no intention to prepare stocks in large quantities, so the market saw weak demand. Producers just returned to operation for some time and their production was limited, so they intended to keep prices firm, and the market fell into a deadlock to some extent. On the international market, from early to middle of February, overseas buyers made limited enquiries and consumers were cautious in making purchases when prices stayed at a high level; but in late February, owing to tense international situation, international buyers fell into panic purchases. The Russia-Ukraine conflicts led to tight supply on the international tungsten market, so international prices moved up on the whole this month.
The Chinese Spring Festival holiday fell in early February. With the holiday coming to an end, the tungsten market saw tight spot supply, so suppliers lifted prices to check market responses, while most consumers already finished replenishing raw materials for the holiday period, so the market saw weak demand and suppliers cut prices to promote sales, leading to slightly dropping tungsten prices in late February. Downstream consumers held relatively sufficient stocks and had no intention to prepare stocks in large quantities, so the market saw weak demand. Producers just returned to operation for some time and their production was limited, so they intended to keep prices firm, and the market fell into a deadlock to some extent. On the international market, from early to middle of February, overseas buyers made limited enquiries and consumers were cautious in making purchases when prices stayed at a high level; but in late February, owing to tense international situation, international buyers fell into panic purchases. The Russia-Ukraine conflicts led to tight supply on the international tungsten market, so international prices moved up on the whole this month.
