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Tungsten market analysis (9.21)-wait and see, holiday

Towards the end of September, confidence in the tungsten market stabilized after the short-term market turmoil. They waited and watched the introduction of the long-term unit price of large enterprises. There were certain differences due to the previous 128,800 quotations from large enterprises in Fujian, 131,000 from institutions in Jiangxi, and 131,500 from large enterprises in Guangdong. In the second half of the month, there are still doubts about whether the quotations of large companies will return by different routes or continue to part ways. Therefore, the market wait-and-see attitude will become the mainstream of this week, and it will enter the National Day holiday stage in the later stage. It is expected that there will be no bright spots in the market.

At present, tungsten ore quotations are gradually stabilizing, with 55 degree black tungsten 84,000/ton and 60 degree black tungsten 85,000/ton. The price of gritty sand excluding tax has stood at 1.19-1.2 yuan/kg degree. The mentality of tungsten ore traders has changed. From the previous panic, shipments have gradually begun to wait and see, and some traders find it difficult to get the goods if they want to purchase at low prices after the inventory has decreased. Most tungsten mining companies are relatively calm, and most believe that there is still a chance to move up in the later period.

The range of APT quotations has further narrowed. When the goods were sold last week, the price range ranged from 125,000 to 129 thousand. Most traders were eager to ship the goods, while APT companies suspended their quotations to avoid risks. Decrease, APT traders have gradually calmed down, and the initiative of market quotation has returned to the hands of APT manufacturers, most of which are quoted at 130,000/ton.

”””” Powder companies have received few actual orders recently, and back-end purchases mostly choose to wait and see. Although powder companies continue to insist on quotation, the signing unit price of just-needed orders can only be maintained at 200 yuan/kg or even slightly lower than this price. Most of the back-end alloy companies had already purchased and stocked up in early August. Recently, unstable market confidence has delayed the purchase plan, and it is expected that a new small peak of purchase and stocking may be formed after the National Day.

”””” The foreign market is relatively deserted. Although the purchase of raw materials has increased inquiries, foreign customers also understand that the domestic market is unstable, so they are not eager to place orders. However, the export resistance of back-end alloys and products is relatively high, and the recovery of the European and American markets is indefinite.

Based on comprehensive analysis, the market mentality at the end of September has not recovered after experiencing volatility. The main market forces are still waiting and waiting. As the National Day holiday will soon be ushered in, it is expected that the market will not perform significantly in the recent working days and can only continue to be weak. Stalemate.

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