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Tungsten market analysis (9.15)-market confidence is slightly weak

Recently, due to the short-term increase in shipments of tungsten ore traders, and many APT companies have stocks and are not eager to replenish their warehouses, the short-term supply of the market is severely oversupply. In addition, the demand for alloys in the back-end is not tepid, and foreign orders have not appeared heavy. The raw material market prices lacked the transfer pressure of the receiving party, and there was a significant decline in the mentality of some traders in anxious shipments.

The market price of tungsten ore has shown a significant retracement. In early September, the quotation of 65°„C concentrate was raised to 88,000/ton, and the transaction of black tungsten above 60°„C also exceeded 86,500/ton, and the price of gross sand excluding tax increased to 1.25 yuan/kg. However, as the volume of goods sold by traders exceeded two or three thousand tons last week, the current price of 60-degree black tungsten fell to around 85,000/ton, and the transaction price of some 50-degree black tungsten was 84,000/ton, excluding tax sand The price has also dropped to around 1.2 yuan/kg.

°°°° The lack of confidence in the APT market followed closely the downward trend in tungsten ore prices. At present, market quotations are mostly concentrated around 130,000/ton, but the transaction price has not reached the 130,000/ton mark, and some transactions have dropped to 129,000/ton, and some traders are even anxious to ship 128,000/ton. Short-term market confidence is not yet Stable, there is still room for a slight decline in prices.

°°°° The high quotations in the tungsten powder market are being suppressed by insufficient demand. The short-term market purchases have been significantly weakened, and most back-end customers wait and see to reduce inquiries. At present, major large enterprises are quoting tungsten powder at 205 yuan/kg and tungsten carbide powder at 203 yuan/kg, but the transaction has fallen to 200 yuan/kg, and the price of a small number of transactions has fallen below this psychological threshold.

Foreign markets are currently relatively lagging behind. Previously, export quotations have been continuously increased due to rising domestic quotations, but the profit margin of exported raw materials is still compressed to a small range. Due to the signs of a sharp rebound in the European epidemic, the road to resumption of production and production in major manufacturing countries is difficult , The consumer demand for raw materials is still sluggish, and the demand for semi-finished products remains relatively stable, but it is difficult to produce a demand-driven effect.

According to a comprehensive analysis, "Successful tungsten ore, but also defeated tungsten ore." In the previous period of rising prices, tungsten ore was reluctant to sell, and traders continued to absorb goods, resulting in tight market supply. However, as the price reached a high level, the quotations of large enterprises and institutions diverged. In addition, the short-term gathering of customers at the Ganzhou Conference and the high volume of transactions have made tungsten ore suppliers begin to profit. Due to the short-term large shipments, they have to compete for low-price shipments, and the back-end procurement is relatively cautious, and short-term prices fluctuate sharply. However, the current consumer demand for tungsten terminals is relatively stable, and there is no black swan incident in the market. It is expected that the price will reconsolidate and stabilize after a slight correction, waiting for new opportunities.

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