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Step back firmly to release the pressure

The current tungsten market has gradually entered a consolidation phase after experiencing a substantial increase. Downstream alloy companies are unable to obtain order support for price increases. This has led to a serious shortage of high-priced orders for many powder companies, and they cannot replenish APT back-to-back in the short term. The rush to deliver goods made the market confidence chaotic. The short-term raw material market has entered a slight consolidation. Perhaps it will release some pressure from oversupply before it can stand on a new level.     At present, the tungsten ore market is steadily weakening. The prices of some batches of tungsten ore are mostly 1.52-1.53 yuan/kg, and the price of standard ton including tax is already below the 110,000/ton mark. APT manufacturers have few bulk orders. It is difficult to purchase on a large scale.     The price of long-term orders and additional orders in the APT market is between 16.66-16.7 million/ton, but the quotations for bulk shipments have been significantly lower. Since most of the shipments were previously stockpiled at low prices, various prices can be profitable , But the lack of orders for the receiving party does not seem to be interested in such low-price selling.     The powder market quotations continue to persist, but the spot price of the sporadic small orders has fallen below 255 yuan/kg, coupled with the weakening of the upstream APT price, making the powder market continue to insist on high quotations is meaningless and may face a slight correction.     Ferro-tungsten prices can remain stable under the support of steel mills' demand and exports. However, once the price of raw materials weakens, it will be difficult to support the quotation of ferro-tungsten.     The scrap market has remained stable after a wave of shipments, but the demand for recycled materials at the back end has entered a deserted period like the original market. The short-term lack of demand support is also a resistance to the scrap market.     There is still room for growth in the international market driven by demand, but APT exports have been synchronized with the domestic market, and it is difficult to increase significantly in the short term. The summer break abroad will still be over for some time, and it will be worth paying attention to whether it can replenish in large quantities.     Comprehensive analysis shows that the tungsten raw material market is currently in the stage of consolidation after a sharp rise. After all, the immeasurable rise in late July brought about a wave of bubbles, and the demand of manufacturers was not as hot as in the first half of the year. After the stock was filled, the downstream procurement entered In a colder period than the off-season, the lack of new orders in the short term will suppress the confidence of the upstream, and raw material prices can only squeeze out the bubble and return to rationality. This kind of stepping back is also to find a basis for the start of a new round of prices. Only by stepping on a stable step can we take the next step. Therefore, we can be cautious and weak in the short term, and we can still remain optimistic in the medium and long term.

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