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Where is the market support?

Yesterday, the National Bureau of Statistics announced that the GDP growth rate in the third quarter reached 4.9%, and the overall first three quarters reached a positive growth of 0.7%. The continuous recovery of the economy has injected confidence in the consumer market, but the excess situation in the processing and manufacturing industry cannot be ignored. As the economy improves, The liquidity stimulus will inevitably weaken, and the amount of market funds will shrink in the future.

       Focusing on the tungsten market, the long-term unit price of APT for large enterprises in Fujian is 127,000/ton, and the long-term unit price of other companies is expected to be around 126,500/ton. As the release of back-end demand is far below expectations, short-term market confidence is still weak, and the price decline seems to be very It is difficult to find a point of support. However, the downward trend of tungsten ore prices has slowed down. The iron bottom of nearly 80,000/ton seems to have made traders intend to buy back. APT is also close to the psychological threshold of 125,000/ton, and traders who ship more than 130,000/ton will gradually Restore attention. At present, the relatively weak position is the back-end powder market. The price concession caused by the unsaturation of production orders has caused market price confusion. The short-term market can only be supported by the two expectations of the stabilization of the mining market and the gradual release of demand for back-end alloys.

”””” The current price of crude sand in the 55-degree black tungsten market is 1.15-1.16 yuan/kg, and the standard ore price is 8.2-82,500/ton. The mines stick to it, the willingness to ship is not strong, and the inventory backlog of traders is relieved. It is expected to repurchase in the future.

”””” APT manufacturers continue to adhere to the price of 127,000/ton, and a small amount of bulk cargo is slightly lower than this price. As the price of long-term orders is concentrated in the range of 1265-12.7 million/ton, market transactions have also narrowed in this price range.

The powder market quotation is relatively chaotic. The mainstream large companies still insist on the high price of 198 yuan/kg for granular tungsten carbide powder, but some powder companies that are anxious to receive orders to ensure the production have reduced their quotations to about 196 yuan/kg. The actual market transaction Most were at the 195 yuan/kg mark, and individual low prices fell below the 195 yuan/kg mark.

Comprehensive analysis shows that the current overall weakness of the tungsten market is adjusted. The market can still be slightly stable during the long-term unit price period of large enterprises. However, as the long-term unit price is gradually introduced, the market still needs demand to determine the trend. If the demand in the alloy market can be gradually released in the second half of the year , The powder market price gradually stabilizes, which will bring confidence to the APT market. Coupled with the stable consolidation of the tungsten ore market, this round of price drops will have a real bottoming.

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