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Tungsten Market Analysis (5.24) - Chaos

In 2020, the global release of water under the impact of the epidemic has led to a round of big inflation. In 2021, raw materials will continue to rise sharply, but terminal consumption will gradually weaken, and there will be a trend of stagflation. In 2022, raw materials will fluctuate at a high level, and demand will shrink significantly, and it is already in an economic crisis. in the cycle. The demand in the short-term tungsten market is obviously weak under the unfavorable environment, but the stable support of the raw material market has brought confidence to some suppliers and hoarders. View.     At present, the tungsten ore market is reluctant to sell and support. Some mining companies have begun to insist on the rough sand quotation of 55 degrees wolframite at 1.55 yuan/kg. The price of individual high-grade mines is around 110,000 yuan/standard ton, while buyers still hope for 1.53 yuan/kg. Purchasing in kilograms, it is difficult to have a short-term transaction volume.     APT manufacturers and suppliers insisted on quotations of more than 171,000/ton, but downstream powder companies lacked demand and insisted on purchasing more than 170,000/ton. There were differences in the market and it was still difficult to make deals.     The new order status of powder companies is still weak. Although most of the powder companies' quotations barely maintained this week, due to the suppression of downstream demand, the actual orders were subject to substantial price concessions.     The alloy market has not followed up on the demand for procurement recently. Although the Shanghai epidemic has come to an end, the economic environment is gradually sluggish, which makes it difficult to follow up on consumer demand. The price increase before March has completely failed, and it is likely that there will be price cuts in June. single case.     The market demand for ferrotungsten has also weakened, and the bidding situation of many steel companies is not ideal. At present, the price of ferrotungsten bulk 70% ferrotungsten is gradually approaching 172,000/basic ton, and the price of 80% ferrotungsten gradually returns to 180,000. / basis ton or so.     The current situation in the international market is not optimistic. Due to the weakening of European demand, the shipping price of Russian ferrotungsten has fallen below US$40/kg of tungsten, and the spot APT price in Europe has also fallen below US$330/ton.     Comprehensive analysis shows that the current tungsten raw material market is slightly stable, mainly relying on the reluctance of the supply side to sell, but the back-end demand has not followed up, resulting in this staged stability that has never been able to form a rebound momentum. If the raw material persists for a long enough time, the downstream just needs to be released slowly Follow-up, then it is the ideal stable state, otherwise the stability without volume will still require more efforts from the upstream to maintain it. Once the volume cannot be measured and continues to weaken, the market price will also loosen. Fortunately, the recent package of economic recovery policies at the regular session of the National Assembly is expected to send a positive signal to the market, and it is expected to form a boosting effect in the long run.

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