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Tungsten market analysis (11.10)-key points to support

The current tungsten market has entered the most critical node among the three key points previously expected, that is, the 80,000/ton ore price. This point is the cost line considered by traditional tungsten mining companies, and many traders consider whether to buy The safety point of entry, because this point has a great impact on market confidence, once it falls below the APT, it is likely to fall to the stage of 120,000/ton. In addition, the price of large enterprises in the powder market of 190 yuan/kg must also rely on the support of ore prices. Signal, so there is no other way at this point, but hard support.

The current ore price remains relatively strong. The transaction price of 55 degree black tungsten is basically concentrated in the range of 805-8.1 million/ton, and the price excluding tax is also maintained at 1.14-1.15 yuan/kg degree. Most mines are determined to hold on to 80,000/ton. Tons does not let go, but is relatively silent on how to respond if the demand side does not purchase for a long time.

The transaction price of APT market has mostly maintained at 123,500/ton, and very few appeared at 123,000/ton. Although many manufacturers hope to support the price of 124,000/ton, the sluggish demand is still suppressing market confidence. Today, large enterprises in Guangdong The quotation of long-term orders will be very critical. It is expected that the acceptance price will be around 125,500/ton. Many bulk orders will be traded after the long-term unit price is released.

The powder market is in poor condition, and orders for alloys are relatively scattered. Although large companies are still insisting on the tungsten carbide price of 191 yuan/kg, some small and medium-sized enterprises want to grab orders and do back-to-back mentality, which leads to continued market price confusion, some 188 yuan /Kg transaction has a greater impact on market confidence.

The performance of the ferro tungsten market is slightly different from that of the mainstream tungsten market. As the output and consumption of China's steel industry have increased significantly this year, which has driven the demand for the special steel industry, the demand for ferro tungsten throughout the year is also expected to achieve positive growth. The quotation basically maintained at 70,000/ton for ferro-tungsten and 140,000/ton for 80-iron tungsten.

Comprehensive analysis, the current performance of the tungsten market is slightly deserted before the Spring Festival. Due to the early rise of tungsten raw material prices in July, the market overdraft was weak in September, and the inventory of raw materials far exceeded expectations, causing a large-scale loss of control as soon as the goods were sold. However, as the ore price has dropped to the key node after the holiday, some traders and hot money who have dumped around 85,000/ton have also begun to tentatively cover their positions. If there is financial support and the ore price persists for 1-2 weeks, the raw material market There will be a chance to enter the bottom stable state, and then there will be a chance to usher in the release of back-end demand.

In addition, the breakthrough of vaccines has injected confidence into the global market, but it has also brought about the weakening of water release expectations and the accelerated return of funds from the previous release of water. It is expected that China¡¯s anti-epidemic support funds will be returned on a large scale in March and April next year, and the market will again be possible. There is a money shortage.

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