Monthly Tungsten Market Report Feb 2024
2024-03-14 17:19:08 【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 2024, the Chinese tungsten market saw prices leveling off first and edging up later. The market saw inactive supply and transactions this month. As most consumers already finished year-end purchases, watchful sentiments spread on the market. Further given low confidence of market participants on demand outlook, most consumers showed low interest in making purchases. But the Chinese lunar year coming to an end, tungsten concentrate supply was limited and suppliers intended to keep prices firm. Traders held limited stocks and therefore held back from selling. In January some traders made small-quantity replenishments and prices edged up in late January. This month, APT and tungsten powder producers faced high production costs. Most plants held limited stocks. Further given tight raw material supply, suppliers kept offers firm. This month, the alloy market still witnessed over supply and prices stayed relatively stable with price competition among sellers fierce. But downstream consumers preferred to wait on the sidelines and the market saw inactive purchases. On the international market, boosted by rising marine freights and limited raw material supply, tungsten prices stayed firm. The European and American APT and tungsten oxide markets saw inactive enquiries and buyers showed low acceptance toward current prices. With overseas mines and plants resuming operation successively, the ferrotungsten market saw active enquiries, and ferrotungsten prices in European and Russia both edged up.
In February 2024, the Chinese tungsten market saw prices leveling off first and edging up later. The market saw inactive supply and transactions this month. As most consumers already finished year-end purchases, watchful sentiments spread on the market. Further given low confidence of market participants on demand outlook, most consumers showed low interest in making purchases. But the Chinese lunar year coming to an end, tungsten concentrate supply was limited and suppliers intended to keep prices firm. Traders held limited stocks and therefore held back from selling. In January some traders made small-quantity replenishments and prices edged up in late January. This month, APT and tungsten powder producers faced high production costs. Most plants held limited stocks. Further given tight raw material supply, suppliers kept offers firm. This month, the alloy market still witnessed over supply and prices stayed relatively stable with price competition among sellers fierce. But downstream consumers preferred to wait on the sidelines and the market saw inactive purchases. On the international market, boosted by rising marine freights and limited raw material supply, tungsten prices stayed firm. The European and American APT and tungsten oxide markets saw inactive enquiries and buyers showed low acceptance toward current prices. With overseas mines and plants resuming operation successively, the ferrotungsten market saw active enquiries, and ferrotungsten prices in European and Russia both edged up.
