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Tungsten Market Analysis 4-8: Demand continues to be weak

The global epidemic continues to erupt, and its impact on global production and demand is very obvious. The same is true for tungsten. In March, the products of the tungsten industry chain have been sluggish from front to back. The main reason is of course the terminal With the reduction in consumption, exports after March almost stagnate, and the domestic situation is also affected by the epidemic. Demand has decreased, and orders for small and medium-sized alloy companies have been sluggish to varying degrees, which has made the entire industrial chain circulated and prices have fallen.

    Although we believe that the price of tungsten ore (subject to black tungsten concentrate) at 80,000 yuan / ton will be an important node, and there will be downward resistance at this node. In fact, it is true. Tungsten ore price last week The downward speed has slowed down, and some downstream manufacturers (smelters and traders) said that it is very difficult to purchase tungsten concentrates of more than 20 tons at a price of 77,000 yuan / ton. These mines believe that this price is somewhat low. If there is no financial pressure, Wait a second.

      But now it seems that this node has broken through, and there is no grade of tungsten sand that can be sold for more than 80,000 yuan / ton. Mine is also under great pressure, especially for private mines, which started this year at a relatively late time, but it is difficult to start production, but now they are facing too low prices. At this time, they have to choose to continue production or stop production for maintenance, but all are losses. . Starting this week, the price of tungsten ore is difficult to withstand pressure and continues to fall. The internal quotation of Jiangtungsten Group is lowered to 77,000 yuan per standard ton, and the actual market transaction price will be lower.

    APT prices also continue to decline. The current bulk transaction price is less than 118,000 yuan / ton, the price of long orders will be lower, some prices are less than 115,000 yuan / ton. Some smelters have been unable to withstand excessively low prices and have difficulty in selling. They have chosen to stop production and overhaul. Since March, all smelters have been operating normally, but sales have not been normal, so they have caused some inventory backlogs, and during this period, the raw materials used by the smelters Most of them are relatively high-priced, so the cost is relatively high, so the smelter also needs to face the practical problems. If APT continues to sell badly, there will be great financial pressure for the smelter, and low-priced sales may be possible It is also a helpless move.

    The powder alloy market can be described as bad, mainly because there are too few orders, and some small and medium-sized enterprises cannot receive decent orders for a long time. If they continue to do so, they may also be shut down for maintenance. Now the price of medium-grain tungsten carbide is 193-195 yuan / kg, and the medium-grain tungsten powder is also 196-198 yuan / kg. There are few transactions, and the prices are quite different. The price of 190 yuan / kg has fallen to.

    In summary, tungsten market demand is weak, and it is difficult to recover in the short term. The price has fallen below the prices of all parties. However, in addition to the willingness of manufacturers to sell at a low price, it is still difficult to find a point that can support the market stabilization. It's still big.

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