Monthly Tungsten Market Report May 2022
2022-06-20 12:00:29 【Print】
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1. Market Highlights
In May, the Chinese tungsten market saw generally dropping prices. Without sufficient end demand, upstream raw material prices moved down on the whole, and the spot market saw continuously limited deals. Though tungsten concentrate suppliers intended to keep prices unchanged, downstream APT 88.5%min producers showed low interest in purchasing raw materials as a result of weak demand. Regarding APT 88.5%min, its prices moved down on the whole. Owing to weak demand, most consumers just executed long-term orders, and some suppliers cut prices with a view of promoting sales. Regarding tungsten powder, as raw material prices moved down while demand for cemented carbide from China and overseas shrank notably on a year-to-year basis, the tungsten powder market saw limited deals and tungsten powder prices moved down. On the international market, depressed by dropping tungsten prices inside China, the Chinese tungsten export market saw rare deals and consumers made only hand-to-mouth purchases, while tungsten suppliers cut prices, so prices on the Chinese tungsten export market and international market both showed downward trends. Regarding ferrotungsten, as prices in China moved down on the whole while Russian and European markets saw weak demand, ferrotungsten prices showed a downward trend.
In May, the Chinese tungsten market saw generally dropping prices. Without sufficient end demand, upstream raw material prices moved down on the whole, and the spot market saw continuously limited deals. Though tungsten concentrate suppliers intended to keep prices unchanged, downstream APT 88.5%min producers showed low interest in purchasing raw materials as a result of weak demand. Regarding APT 88.5%min, its prices moved down on the whole. Owing to weak demand, most consumers just executed long-term orders, and some suppliers cut prices with a view of promoting sales. Regarding tungsten powder, as raw material prices moved down while demand for cemented carbide from China and overseas shrank notably on a year-to-year basis, the tungsten powder market saw limited deals and tungsten powder prices moved down. On the international market, depressed by dropping tungsten prices inside China, the Chinese tungsten export market saw rare deals and consumers made only hand-to-mouth purchases, while tungsten suppliers cut prices, so prices on the Chinese tungsten export market and international market both showed downward trends. Regarding ferrotungsten, as prices in China moved down on the whole while Russian and European markets saw weak demand, ferrotungsten prices showed a downward trend.
