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The economy bottomed out and the tungsten market stalemate

Last week, the main economic indicators at home and abroad showed a double-fire situation. The US GDP in the second quarter fell by 32.9%, a record low value, but it was slightly better than the market expected drop of about 35%. In addition, China¡¯s July PMI index was 51.1%, which has stood on the line of prosperity and decline for five consecutive months, and the new order index has also rebounded for three consecutive months, reflecting the momentum of China's economic recovery. Driven by the positive economic news, the stock market, oil prices, and exchange rates have all strengthened. Although the tungsten market is not directly related to commodities, the overall environmental situation is favorable to the stability of the current price increase.

The tungsten ore market is still trading with high quotations. Most high-grade wolframite ore is quoted at around 85,000/ton, while the price that APT companies can purchase is still stalemate at 83,000-84,000/ton. The current price is gradually approaching 85,000/ton. Pass, this price will reach the cost line for some mines. In addition, the early hot money and traders are also actively paying attention to the trend, and most of them have the intention of shipping if they rise a little bit.

The short-term supply of the APT market is still tightening, but as large enterprises resume production, the state of shortage of supply in the later period will change to a tightly balanced state. Due to the difficulty in purchasing tungsten ore, APT companies also hope to operate back-to-back, so they all quote a little bit ahead. The quotation has reached 128,000-12.9 million/ton, which is only one step away from the 130,000/ton mark. The production enterprises also hope that the transaction will be around 126,000/ton.

The powder market¡¯s acceptance of raising quotations is still insufficient. Some companies say that orders over 193 yuan/kg are very few, and some alloy companies¡¯ own digestive needs are also decreasing. Most of the previous stockings can support more than one month, and there is no intention to accept APT in the short term. High offer. At present, the main transaction price of tungsten carbide is concentrated in the range of 192-194 yuan/kg.

¡¡¡¡ The export market was driven by rising prices of domestic raw materials to raise prices slightly, but the actual demand has not yet reached the release period. Foreign buyers still inquire about their presence. The real demand for stocking is still obtained after mid-to-late August. However, the current phenomenon of low APT export prices has decreased, and the quotations have gradually returned to a stable level of US$205/ton.

Based on comprehensive analysis, the price of tungsten raw materials market has increased by 3000-5000 yuan/ton after 20 days of promotion. Compared with the rapid increase in April, the pace is relatively flat. Tungsten ore suppliers are striving for a price of 85,000/ton. APT The low inventory of powder companies can only increase with the rise in ore prices. Production companies do not have much profit margins in back-to-back operations. However, early traders and hot money are forces that cannot be underestimated near the threshold. If the overall environment is positive, it can still be Stabilize the military's morale, and if there is any turmoil in the market, there will be another runaway, so the market in early August needs to be cautious.

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