Monthly Tungsten Market Report Aug 2022
2022-09-20 18:34:58 【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 August, boosted by rising upstream raw material prices, prices for tungsten products showed a slow upward movement. Regarding upstream tungsten resources, suppliers held sufficient capital and intended to keep prices firm; further owing to tight spot supply, suppliers intended to lift prices to check market responses, while downstream consumers cautiously made purchases. In August, tungsten concentrate prices moved up slowly with tungsten concentrate WO3 65%min prices rising to around RMB120,000/t (USD17,120/t), APT 88.5%min prices rose to RMB180,000/t (USD25,680/t) and tungsten carbide powder prices rose to RMB270/kg (USD38.52/kg). Bu owing to continuously weak end demand, mainstream tungsten prices moved down in late August; some suppliers intended to promote sales by lowering prices, and a watchful sentiment grew on the market. In August, tungsten producers held limited resources and insufficient product stocks, so intended to keep prices firm. Meanwhile, the international market was on the summer leave in August and buyers were inactive in purchasing tungsten products. Downstream cemented carbide producers in China held large quantities of stocks and their prices hovered at around RMB330/kg (USD47.08/kg), lacking upward momentum as a result of weak demand. A pessimistic sentiment lingered on the market and export prices hovered at a low level without demand from overseas cemented carbide industry. On the international market, in August tungsten export prices stayed unchanged on the whole. Owing to weak overseas demand, Chinese tungsten exporters kept their quotations unchanged so as to gain more orders. This month, export prices for Chinese APT88.5%min and tungsten carbide powder stabilized respectively at USD330-340/kg and USD30-40/kg.
In August, boosted by rising upstream raw material prices, prices for tungsten products showed a slow upward movement. Regarding upstream tungsten resources, suppliers held sufficient capital and intended to keep prices firm; further owing to tight spot supply, suppliers intended to lift prices to check market responses, while downstream consumers cautiously made purchases. In August, tungsten concentrate prices moved up slowly with tungsten concentrate WO3 65%min prices rising to around RMB120,000/t (USD17,120/t), APT 88.5%min prices rose to RMB180,000/t (USD25,680/t) and tungsten carbide powder prices rose to RMB270/kg (USD38.52/kg). Bu owing to continuously weak end demand, mainstream tungsten prices moved down in late August; some suppliers intended to promote sales by lowering prices, and a watchful sentiment grew on the market. In August, tungsten producers held limited resources and insufficient product stocks, so intended to keep prices firm. Meanwhile, the international market was on the summer leave in August and buyers were inactive in purchasing tungsten products. Downstream cemented carbide producers in China held large quantities of stocks and their prices hovered at around RMB330/kg (USD47.08/kg), lacking upward momentum as a result of weak demand. A pessimistic sentiment lingered on the market and export prices hovered at a low level without demand from overseas cemented carbide industry. On the international market, in August tungsten export prices stayed unchanged on the whole. Owing to weak overseas demand, Chinese tungsten exporters kept their quotations unchanged so as to gain more orders. This month, export prices for Chinese APT88.5%min and tungsten carbide powder stabilized respectively at USD330-340/kg and USD30-40/kg.
