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No amount of support is empty talk

The current tungsten market is seriously lacking in trading volume. As the epidemic situation in East China has not completely improved, the terminal consumer demand has not been able to follow up, and the number of alloy orders has shrunk significantly, resulting in the continued decline in the powder market price. APT175,000/ton also lacks support. It is even more surplus. Buyers hesitate to wait and see. In the short term, all links have no intention to make up their positions. Therefore, it is useless to talk about supporting prices too early.     At present, the price of 55-degree wolframite in the tungsten ore market is mostly 1.58 yuan/kg, but the buyer's bid has been lowered to 1.55 yuan/kg, and individual low-grade ore is too low to be traded.     At present, the APT bulk market quotation is still barely maintained at 175,000/ton, but the buyer's bid is even lower by one or two thousand yuan. As the long-term orders of large enterprises in Guangdong are expected to continue to decline, the future market can only approach 170,000/ton.     The quotations of powder companies have been lower than the price of 270 yuan/kg, and the signed price is closer to 265 yuan/kg. The overall order situation is still low, and subsequent purchases continue to wait and see. In addition, the price of cobalt powder has returned to the 600 yuan/kg mark, and it has become a high probability event to wear down.     At present, most of the alloy companies report that the back-end demand is insufficient, and the procurement should be postponed as much as possible. Although some companies have serious shortage of raw material inventory and urgently need to purchase, the order volume is very small, and it cannot bring benefits to the powder market in the short term.     Comprehensive analysis shows that at present, the tungsten market continues to decline with the weakening of the general environment. Due to the stable supply of raw materials but the shrinking back-end demand, the situation of oversupply continues to deteriorate, and the overall market confidence is insufficient. Since alloy companies mainly focus on digesting inventory and have no plans to purchase large quantities in the short term, it is expected that the market can only continue to decline indefinitely this week.

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