Monthly Tungsten Market Report Jun 2022
2022-07-18 18:10:39 【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
In June, the Chinese tungsten market ran steadily. Owing to weak end demand, the market saw limited deals. Consumers lacked orders from end users and therefore preferred to wait on the sidelines. Most deals concluded were in long-term forms. In June, prices for tungsten products slowed down in their downward movements as a result of firm tungsten concentrate prices. Tungsten concentrate suppliers intended to hold back from selling as they had sufficient capital and their production costs were firm, while downstream consumers were cautious in making purchases owing to weak demand. Regarding APT 88.5%min, producers faced pressure from two sides. Raw material prices hovered at a high level while downstream demand was weak, so most APT producers chose to cut production in June and mainly focused upon executing long-term orders, leading to tight supply on the spot market. Regarding tungsten powder, in June the market saw dim conditions as most cemented carbide producers held large-quantity stocks of their finished products and therefore had no intention to purchase raw materials in bulk. Given dropping raw material prices, tungsten powder suppliers had to cut prices with a view of gaining more orders, leading to decreases in tungsten powder prices. Most tungsten powder plants cut production this month in order to lower their stocks. The cemented carbide market saw relatively weak demand and many consumers maintained only hand-to-mouth purchases. The slowness in economic recovery prevented end demand from releasing. On the international market, in June the international market ran slowly. As tungsten prices inside China moved down, overseas buyers preferred to wait on the sidelines and some of them maintained only hand-to-mouth purchases. As a result, export prices for Chinese tungsten products edged down in June.
In June, the Chinese tungsten market ran steadily. Owing to weak end demand, the market saw limited deals. Consumers lacked orders from end users and therefore preferred to wait on the sidelines. Most deals concluded were in long-term forms. In June, prices for tungsten products slowed down in their downward movements as a result of firm tungsten concentrate prices. Tungsten concentrate suppliers intended to hold back from selling as they had sufficient capital and their production costs were firm, while downstream consumers were cautious in making purchases owing to weak demand. Regarding APT 88.5%min, producers faced pressure from two sides. Raw material prices hovered at a high level while downstream demand was weak, so most APT producers chose to cut production in June and mainly focused upon executing long-term orders, leading to tight supply on the spot market. Regarding tungsten powder, in June the market saw dim conditions as most cemented carbide producers held large-quantity stocks of their finished products and therefore had no intention to purchase raw materials in bulk. Given dropping raw material prices, tungsten powder suppliers had to cut prices with a view of gaining more orders, leading to decreases in tungsten powder prices. Most tungsten powder plants cut production this month in order to lower their stocks. The cemented carbide market saw relatively weak demand and many consumers maintained only hand-to-mouth purchases. The slowness in economic recovery prevented end demand from releasing. On the international market, in June the international market ran slowly. As tungsten prices inside China moved down, overseas buyers preferred to wait on the sidelines and some of them maintained only hand-to-mouth purchases. As a result, export prices for Chinese tungsten products edged down in June.
