Monthly Tungsten Market Report Jul 2022
2022-08-17 18:01:58 【Print】
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1 Market Highlights
In July, tungsten prices stopped dropping and began to rebound. Owing to tight supply, tungsten concentrate suppliers held back from selling in order to keep prices firm and drive prices up. Further affected by the fact that in July most producers halted production for equipment maintenance and market supply shrank, downstream consumers worried that prices might move up and therefore began to make small-quantity purchases. Upstream suppliers felt bearish on price trends. In the tungsten concentrate industry, players had lenient monetary environment and faced lesser capital pressure, so suppliers intended to hold back from selling with a view of keeping prices firm, but consumer maintained hand-to-mouth purchases. Regarding APT 88.5%min, in July some producers halted production and market supply was tight. Further driven by rising tungsten concentrate prices, APT prices moved up. Tungsten powder prices followed suit slowly and downstream cemented carbide producers maintained hand-to-mouth purchases, while downstream consumers showed a strong watchful sentiment. On the international market, it was during the summer vacation and the market saw limited purchases, so suppliers cut prices mildly in order to gain orders. In early July, the Chinese tungsten export market saw limited deals; but with prices on the domestic market rising, tungsten export prices stayed unchanged in late July and edged up slowly at the end of July. With the COVID-19 situation controlled inside China, Chinese economy recovered slowly and end demand was likely to release further.
In July, tungsten prices stopped dropping and began to rebound. Owing to tight supply, tungsten concentrate suppliers held back from selling in order to keep prices firm and drive prices up. Further affected by the fact that in July most producers halted production for equipment maintenance and market supply shrank, downstream consumers worried that prices might move up and therefore began to make small-quantity purchases. Upstream suppliers felt bearish on price trends. In the tungsten concentrate industry, players had lenient monetary environment and faced lesser capital pressure, so suppliers intended to hold back from selling with a view of keeping prices firm, but consumer maintained hand-to-mouth purchases. Regarding APT 88.5%min, in July some producers halted production and market supply was tight. Further driven by rising tungsten concentrate prices, APT prices moved up. Tungsten powder prices followed suit slowly and downstream cemented carbide producers maintained hand-to-mouth purchases, while downstream consumers showed a strong watchful sentiment. On the international market, it was during the summer vacation and the market saw limited purchases, so suppliers cut prices mildly in order to gain orders. In early July, the Chinese tungsten export market saw limited deals; but with prices on the domestic market rising, tungsten export prices stayed unchanged in late July and edged up slowly at the end of July. With the COVID-19 situation controlled inside China, Chinese economy recovered slowly and end demand was likely to release further.
