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Tungsten City Analysis: The Market Lacks Vitality

This  week, the tungsten market has not shaken off the weak stalemate. The  continued sluggish demand side has made the whole market look lack of  vitality. Fortunately, the tungsten ore shipments have tightened, so  that the price will not fall sharply, but the small negative decline is  difficult. Avoid, and the current demand does not see signs of recovery, most market participants also take a wait-and-see attitude.

Tungsten  ore has become the most powerful support point for the market. Due to  the tightening of tungsten ore shipments, the price of the back-end  products has also been maintained. At present, the price of black  tungsten concentrate is 9.9-100,000 yuan/ton, and the price of mines has  dropped back to 100,000. Below  RMB/ton, there is still the possibility of continuing to fall,  especially as time goes on, demand will not continue to pick up and the  capital pressure of miners will increase, and the possibility of  individual low-priced shipments will not be ruled out.

The  APT market has very few transactions. In recent days, the transactions  have been concentrated at 158,000 yuan/ton. However, the current price  is more difficult to sell. The price below 158,000 yuan/ton is also  reported, but it is not the mainstream price. Downstream  manufacturers basically do not care at this time. One reason is that  they have received fewer orders, sufficient inventory, and the market  price may fall further. Manufacturers also have the mentality of buying  and not buying, so the market weakness of APT The stalemate, the downward pressure is still very large.

The  demand for tungsten powder is not strong. Although the price of  tungsten carbide is maintained at 246 yuan/kg, the medium-grain tungsten  powder is around 248 yuan/kg, but the actual trading volume is very  few. The bulk cargo is basically unattended and the demand performance  is sluggish. There  are several reasons for this. First, the inventory of the alloy factory  is sufficient. Because the alloy orders are reduced, the purchase  volume of raw materials will naturally decrease. Secondly, the market is  weak, and the price of raw materials still has room to fall. The  attitude of buying and not buying is very strong. Then,  the manufacturers are more pessimistic about the market outlook, do not  dare to backlog inventory, and the pressure on the end of the year, the  manufacturers will not put the funds on the raw material end, these  factors superimposed to cause the powder alloy orders to shrink, the  market is also sluggish.

In  summary, the new orders for powdered alloys are very small, causing  market circulation to be blocked, the weak market continues to spread,  and the price of tungsten products may fall further.

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