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Raw material prices weaken, demand continues to wait and see

At present, the overall tungsten market is still weak, and the back-end consumption capacity has deteriorated. This has led to the slow release of market demand on the purchasing end. The upstream raw material companies have not been able to get the support of the order volume. They can only continuously reduce prices to compete for the limited market cake. Demand procurement sees a weak and declining market and has no intention of entering the market. Continue to wait and see when the price is right or enter the stage of stabilization and consolidation before making a move.

At present, the tungsten ore market is better than the back-end market. Some mines have begun to insist on reluctance to sell and do not intend to ship at low prices. Traders who shipped at high prices in the early stage are also concerned about when the market will stabilize and replenish inventory. Under such psychological expectations, the price of tungsten ore Even under pressure, the market price of black tungsten at 55”ćC will continue to stay at 81,500/ton.

The front end of APT is stuck by tungsten ore, and the back end encounters powder price reduction. It is still difficult to stabilize in the short term. Because the purchase volume in the APT market has not been enlarged for some time, large companies have no intention to increase long-term orders, and some large trading companies have not It is difficult to improve the situation of short-term APT market oversupply when entering the market for purchases. With the long-term unit prices of many large companies continuing to adjust, the market price continues to maintain a narrow space of 1255-12.6 million/ton.

”””” The powder market demand is seriously insufficient, and some powder companies are about to face the dilemma of no-order production, but even if they take the initiative to reduce prices and make profits, it is difficult to stimulate insufficient terminal consumption. At present, the contract price of medium-particle tungsten powder is about 195 yuan/kg, and the price of tungsten carbide powder has dropped to 192 yuan/kg or even less.

Comprehensive analysis shows that the tungsten industry chain is currently in a downturn. Even as a leader, tungsten mines are unable to support the downward pressure of the entire market. If the back-end consumer demand continues to remain on the sidelines, the short-term market decline will be difficult to change, and large companies have not increased their volume for a long time. Whether procurement can take the initiative to attack is also worthy of attention. Whether the year-end report looks good or not may be known in early November.

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