Chinese tungsten carbide power market slack
2023-04-26 12:00:16 [Print]
BEIJING (Asian Metal) 26 Apr 23 - Driven up by the increasing price of APT88.5%min, tungsten carbide powder suppliers raised offers accordingly, while most downstream consumers continue to make on-demand purchases, leading to a slack market. Mainstream prices for Chinese tungsten carbide powder 99.8%min 2.5-7.0μm now stand at RMB266-269/kg (USD38.44-38.87/kg) delivered D/A 180 days, up by around RMB3/kg (USD0.43/kg) from late last week. Considering that upstream raw material suppliers intend to lift offer further to test market, APT suppliers insist on firming their offers, so insiders believe that prices for Chinese tungsten carbide powder 99.8%min 2.5-7.0μm would edge up further in the following week.
A producer in South China said, "We now quote tungsten carbide powder 99.8%min 2.5-7.0μm at RMB270/kg (USD39.02/kg) delivered D/A 180 days and would accept RMB269/kg (USD38.87/kg) only for firm orders from regular clients. However, we didn't close any deals this week as the spot market remained sluggish since late last week. We last sold about 10t of tungsten carbide powder at RMB268/kg (USD38.73/kg) late last week". The producer added that most APT88.5%min suppliers prefer to firm their offer at RMB180,000/t (USD26,012/t) delivered D/P and the market witnesses firm offers. Driven up by higher price of raw material, they had to mark up the offer for tungsten carbide powder, while most consumers prefer to wait on the sidelines due to the fast increasing prices. They sold 30-40t last week, against nearly 50-60t a week in early April. They expect to sell just around 30t this week. Despite the slowdown in purchases from end users, the producer believes that prices for Chinese tungsten carbide powder 99.8%min 2.5-7.0μm would rise further in the coming week given the increasing production cost.
With an annual production capacity of 3,000t of tungsten carbide powder 99.8%min 2.5-7.0μm, they produced about 2,000t in total last year and around 680t so far in 2023. They expect to produce about 200t in April, on par with March, and have no stock in hand now, the same as a month ago.
Another producer in South China, "Our offer for tungsten carbide powder 99.8%min 2.5-7.0μm is RMB272/kg (USD39.31/kg) delivered D/A 180 days and we refuse to accept prices lower than RMB270/kg (USD39.02/kg) even for firm orders. However, the market remains slack now with most orders less than 50,000t". The producer disclosed that they sold just 2t at RMB270/kg (USD39.02/kg) delivered D/A 180 days this week, and last sold about 6t at RMB267/kg (USD38.58/kg) late last week. The producer explained that they raised offer for tungsten carbide powder 99.8%min 2.5-7.0μm after APT88.5%min prices moved up, and the most competitive offer they got for APT88.5%min already rose to RMB179,000/t (USD25,867/t), while some suppliers could still accept RMB178,000/t (USD25,723/t) last week. In view of the rising price of raw material, they believe that prices for Chinese tungsten carbide powder 99.8%min 2.5-7.0μm would edge up in the coming week.
With an annual production capacity of 5,000t of tungsten carbide powder 99.8%min 2.5-7.0μm, they produced about 4,000t in 2022 and around 1,500t this year to date. They expect to produce about 380t in April, on par with last month, and currently don't hold any stocks, the same as one month earlier.
A producer in South China said, "We now quote tungsten carbide powder 99.8%min 2.5-7.0μm at RMB270/kg (USD39.02/kg) delivered D/A 180 days and would accept RMB269/kg (USD38.87/kg) only for firm orders from regular clients. However, we didn't close any deals this week as the spot market remained sluggish since late last week. We last sold about 10t of tungsten carbide powder at RMB268/kg (USD38.73/kg) late last week". The producer added that most APT88.5%min suppliers prefer to firm their offer at RMB180,000/t (USD26,012/t) delivered D/P and the market witnesses firm offers. Driven up by higher price of raw material, they had to mark up the offer for tungsten carbide powder, while most consumers prefer to wait on the sidelines due to the fast increasing prices. They sold 30-40t last week, against nearly 50-60t a week in early April. They expect to sell just around 30t this week. Despite the slowdown in purchases from end users, the producer believes that prices for Chinese tungsten carbide powder 99.8%min 2.5-7.0μm would rise further in the coming week given the increasing production cost.
With an annual production capacity of 3,000t of tungsten carbide powder 99.8%min 2.5-7.0μm, they produced about 2,000t in total last year and around 680t so far in 2023. They expect to produce about 200t in April, on par with March, and have no stock in hand now, the same as a month ago.
Another producer in South China, "Our offer for tungsten carbide powder 99.8%min 2.5-7.0μm is RMB272/kg (USD39.31/kg) delivered D/A 180 days and we refuse to accept prices lower than RMB270/kg (USD39.02/kg) even for firm orders. However, the market remains slack now with most orders less than 50,000t". The producer disclosed that they sold just 2t at RMB270/kg (USD39.02/kg) delivered D/A 180 days this week, and last sold about 6t at RMB267/kg (USD38.58/kg) late last week. The producer explained that they raised offer for tungsten carbide powder 99.8%min 2.5-7.0μm after APT88.5%min prices moved up, and the most competitive offer they got for APT88.5%min already rose to RMB179,000/t (USD25,867/t), while some suppliers could still accept RMB178,000/t (USD25,723/t) last week. In view of the rising price of raw material, they believe that prices for Chinese tungsten carbide powder 99.8%min 2.5-7.0μm would edge up in the coming week.
With an annual production capacity of 5,000t of tungsten carbide powder 99.8%min 2.5-7.0μm, they produced about 4,000t in 2022 and around 1,500t this year to date. They expect to produce about 380t in April, on par with last month, and currently don't hold any stocks, the same as one month earlier.
