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  • Monthly Tungsten Market Report Feb 2023

    2023-03-21 18:11:33   【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 February 2023, the Chinese tungsten market saw dropping prices. As some traders were eager to make sale to get cash, the tungsten market saw mildly growing supply.Asian Metal CopyrightS.Asian Metal Copyright Moreover, as downstream cemented carbide producers held low operating rates and showed weak demand this month, cemented carbide prices lacked upward momentum and consumers made only hand-to-mouth purchases, leading to slowly dropping prices on the Chinese tungsten market.Asian Metal Copyright The European and U.Asian Metal Copyright In February, as tungsten concentrate miners held low operating rates and held limited spot stocks, suppliers intended to keep prices firm, but some traders intended to make sales to get cash, leading to slightly growing supply on the tungsten concentrate market.Asian Metal Copyright5kg W, USD328mtu and USD39.Asian Metal Copyright Downstream consumers made steady purchases and the market saw inactive deals. This month, tungsten concentrate WO3 55%min prices edged down to around RMB118,000/t (USD17,134/t) and the market saw limited deals.Asian Metal Copyright In February, restricted by mildly dropping raw material prices and weak demand from cemented carbide market, prices for medium-sized tungsten carbide powder edged down to around RMB270kg USD39.Asian Metal Copyright Restricted by dropping tungsten concentrate prices, APT 88.Asian Metal CopyrightS.Asian Metal Copyright5%min producers accepted small price concessions to promote sales, but the spot market saw limited deals on the whole with most deals concluded in long-term form.Asian Metal Copyright As some traders were eager to make sale to get cash, the tungsten market saw mildly growing supply.Asian Metal Copyright Consumers only made hand-to-mouth purchases.Asian Metal Copyright5%min prices edged down to RMB179,000t USD25,991t delivered DP.Asian Metal Copyright Mainstream APT 88.5%min prices edged down to RMB179,000/t (USD25,991/t) delivered D/P. In February, restricted by mildly dropping raw material prices and weak demand from cemented carbide market, prices for medium-sized tungsten carbide powder edged down to around RMB270/kg (USD39.20/kg), while consumers made only hand-to-mouth purchases as they already prepared enough stocks before the Spring Festival holiday and preferred to wait on the sidelines. In February, tungsten bar prices edged down to around RMB285/kg (USD41.38/kg) as tungsten powder prices moved down and tungsten bar suppliers had to cut prices slightly in order to promote sales.Asian Metal Copyright .Asian Metal Copyright This month, ferrotungsten prices stayed unchanged on the whole.Asian Metal Copyright As some traders were eager to make sale to get cash, the tungsten market saw mildly growing supply.Asian Metal Copyright Restricted by firm tungsten concentrate prices, ferrotungsten suppliers kept offers firm, but downstream steel mills were inactive in purchasing ferrotungsten and made mostly hand-to-mouth purchases. In February, ferrotungsten 75%min prices stabilized at RMB185,000/t (USD26,862/t) delivered D/P and ferrotungsten 70%min prices stayed firm at around RMB176,000/t (USD25,555/t). In February, sodium tungstate 96%min prices stayed firm at RMB140,000/t (USD20,328/t) EXW D/P.Asian Metal Copyright In February, tungsten bar prices edged down to around RMB285kg USD41.Asian Metal Copyright Supported by firm raw material prices, the sodium tungstate market saw inactive deals.Asian Metal Copyright Moreover, as downstream cemented carbide producers held low operating rates and showed weak demand this month, cemented carbide prices lacked upward momentum and consumers made only hand-to-mouth purchases, leading to slowly dropping prices on the Chinese tungsten market.Asian Metal Copyright This month, tungsten grinding sward scrap suppliers kept offers firm owing to tight spot supply, but mainstream prices dropped to RMB1.65/kg (USD0.24/kg) tungsten oxide.Asian Metal Copyright5kg W, USD328mtu and USD39.Asian Metal Copyright On the international market, in February overseas demand was weak on the whole and the Chinese tungsten export market saw limited deals.Asian Metal Copyright5%min prices edged down to RMB179,000t USD25,991t delivered DP.Asian Metal Copyright Further owing to appreciating USD, inactive deals on the export market and slightly dropping prices on the Chinese domestic tungsten market, export prices for Chinese tungsten products showed downward trend on the whole.Asian Metal Copyright This month, ferrotungsten prices stayed unchanged on the whole.Asian Metal Copyright In February, export prices for Chinese ferrotungsten 75%min, APT 88.Asian Metal Copyright Restricted by firm tungsten concentrate prices, ferrotungsten suppliers kept offers firm, but downstream steel mills were inactive in purchasing ferrotungsten and made mostly hand-to-mouth purchases.Asian Metal Copyright5%min and medium-sized tungsten carbide powder edged down to USD39.5/kg W, USD328/mtu and USD39.5/kg respectively.Asian Metal Copyright This month, ferrotungsten prices stayed unchanged on the whole.Asian Metal Copyright Overseas buyers were cautious in making purchases.Asian Metal Copyright In February, restricted by mildly dropping raw material prices and weak demand from cemented carbide market, prices for medium-sized tungsten carbide powder edged down to around RMB270kg USD39.Asian Metal Copyright The European and U.Asian Metal Copyright .Asian Metal CopyrightS.Asian Metal Copyright65kg USD0.Asian Metal Copyright markets saw inactive economic situations on the whole and major clients were cautious in making purchases.

    .Asian Metal Copyright In February, tungsten bar prices edged down to around RMB285kg USD41Asian Metal Copyright
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