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(7.6) Tungsten City Analysis: Market Weakness Maintains Downside Pressure

This  week, the tungsten market was weakly weak, and the prices of the three  major raw materials all fell to varying degrees. This is also expected  by the manufacturers. This kind of market has also made the market very  small, except for the regular long-term orders of large-scale tungsten  enterprises. In  addition to procurement, there are very few transactions in bulk, and  the entire demand side is shrouded in the off-season, making the already  inactive market more stalemate.

The  tungsten ore market is weak. The average price of the tungsten tungsten  concentrate (black tungsten 65) in the Cangzhou Tungsten Association  was 109,000 yuan/ton yesterday, and the long-term price of Jiangxi  tungsten enterprises was also 109,000 yuan/standard tons. The  prices are basically the same, the market bulk cargo turnover is very  small, the downstream manufacturers will basically not pick up at this  time, the shipment of tungsten concentrate is still hindered, there are  several reasons for the analysis of the discretion, the first one is of  course to buy The  second is the reduction in the consumption of downstream products, that  is, the weakening of demand. The third reason is the pressure on funds,  and the downstream enterprises also have financial pressure. These  factors have combined to cause difficulties in the shipment of tungsten  concentrates. The most important reason is the reduction in  consumption, or it can be said that it is just needed to reduce, and the  smelter output and terminal demand are less, resulting in a backlog of  tungsten ore. These  factors are plagued by the fact that the tungsten ore market should  remain weak in the short term, but as prices fall and become closer to  production costs, market trends will slow down and downside will narrow.

The  APT market is weak, and there is almost no deal in bulk cargo. The  market is in a downturn and the demand for APT is weakening. The  price is in the downside risk, the downstream buyers maintain a  cautious wait-and-see attitude, but now the smelter's output is limited,  the market spot supply is also relatively small, so there is no market  at both ends of the supply and demand, although the market price is  still 176.168 million Yuan/ton,  but there is almost no support. The long-term quotation of large-scale  tungsten enterprises will be given. The prices of listed tungsten  enterprises in Fujian and Jiangxi this week are all at 175,000 yuan/ton,  which also makes this The  price of the week is basically maintained at 175,000 yuan / ton,  because the APT spot is less, there is no manufacturer to sell, so the  price will not fluctuate greatly in the short term.

The  price of tungsten powder fell slightly. The price of raw tungsten  carbide was about 276 yuan/kg. The market volume was very limited.  Buyers only had to use the raw materials to purchase the goods, and the  purchases were batched in small batches to avoid a lot of inventory. In  addition, the demand for the back end has also entered the off-season,  and the consumption of the whole raw materials has slowed down. For  various reasons, the manufacturers are mostly bearish and the market is  more cautious, so the purchase of goods is also more cautious, so the  market will still be weak in the short term, and the price may still  fall.

In  summary, the tungsten market is weaker this week, and there are more  negative factors. Market operators are more rational in their  operations, and their views on the market outlook are not optimistic.  Especially when demand is reduced, market participants are less  optimistic about the market outlook, so the market is short-term. Still in a relatively weak atmosphere, the remaining market in July needs a support point to stabilize the market.

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