Monthly Tungsten Market Report Aug 2023
2023-09-15 17:29:13 【Print】
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1. Market Highlights
In August, tungsten prices in China fluctuated generally in a ladder form. As some producers suspended production for equipment maintenance in late August, the tungsten market saw tight supply and firm prices of raw materials . In August, tungsten prices touched the bottom and began to rebound . Consumers made rigid-demand purchases and the market saw mildly growing deals. This month, most tungsten concentrate suppliers were in no hurry to make sales with a view of keeping their prices firm, and tungsten concentrate prices rebounded to around RMB120,000/t (USD16,494/t) . In August, boosted by firm tungsten concentrate prices, APT88.5%min prices moved back to over RMB180,000/t (USD24,741/t), while most consumers maintained purchases via long-term orders with limited deals concluded on the spot market . In August, the tungsten carbide powder market saw growing deals . Seeing raw material prices rebounded after touching the bottom, cemented carbide producers set out to replenish their raw material stocks, and the tungsten carbide powder market saw active deals . Prices for tungsten powder and tungsten carbide powder moved up slightly in August . This month, boosted by rising raw material prices, ferrotungsten prices leveled off and suppliers kept their offers firm . But steel mills maintained hand-to-mouth purchases and the market saw generally limited deals . In August, tungsten scrap prices edged up . Given firm raw material prices and tight spot supply, tungsten scrap suppliers kept offers firm, while consumes commonly made hand-to-mouth purchases, leading to limited deals on the market . On the international market this month, the European market was in the off season, so market demand was soft, and there were no notable growths in tungsten purchases . Export prices for Chinese tungsten products edged down, and overseas buyers felt low confidence in market outlook and therefore preferred to make rigid-demand purchases, leading to limited deals on the international tungsten market.
In August, tungsten prices in China fluctuated generally in a ladder form. As some producers suspended production for equipment maintenance in late August, the tungsten market saw tight supply and firm prices of raw materials . In August, tungsten prices touched the bottom and began to rebound . Consumers made rigid-demand purchases and the market saw mildly growing deals. This month, most tungsten concentrate suppliers were in no hurry to make sales with a view of keeping their prices firm, and tungsten concentrate prices rebounded to around RMB120,000/t (USD16,494/t) . In August, boosted by firm tungsten concentrate prices, APT88.5%min prices moved back to over RMB180,000/t (USD24,741/t), while most consumers maintained purchases via long-term orders with limited deals concluded on the spot market . In August, the tungsten carbide powder market saw growing deals . Seeing raw material prices rebounded after touching the bottom, cemented carbide producers set out to replenish their raw material stocks, and the tungsten carbide powder market saw active deals . Prices for tungsten powder and tungsten carbide powder moved up slightly in August . This month, boosted by rising raw material prices, ferrotungsten prices leveled off and suppliers kept their offers firm . But steel mills maintained hand-to-mouth purchases and the market saw generally limited deals . In August, tungsten scrap prices edged up . Given firm raw material prices and tight spot supply, tungsten scrap suppliers kept offers firm, while consumes commonly made hand-to-mouth purchases, leading to limited deals on the market . On the international market this month, the European market was in the off season, so market demand was soft, and there were no notable growths in tungsten purchases . Export prices for Chinese tungsten products edged down, and overseas buyers felt low confidence in market outlook and therefore preferred to make rigid-demand purchases, leading to limited deals on the international tungsten market.