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Tungsten Market Analysis: Market Demand Is Weak, Weakening Power

This  week, the two listed tungsten enterprises have signed a long-term  purchase of raw materials, which has been greatly reduced compared with  the long-term quotation in the first half of the month. This is also  expected by market participants. Looking  at the sound of stability, but the power to stabilize the market is  still insufficient, the terminal demand continues to be weak, and  manufacturers who are not optimistic about the market still occupy more  than half of the products;

The  tungsten ore market is weak and the price has not changed much. The  long-term price of large-scale tungsten enterprises was also released  yesterday. The purchase price of Zhangyuan Tungsten's 65-degree black  tungsten long-selling single is 99,000/ton, and the price of white  tungsten is 97,500 yuan/ton. Basically,  it is more suitable for the current market price. In the short term,  the market transaction price will start around this price. However,  there is still a reluctance to sell at the end of the tungsten  concentrate, especially some manufacturers with higher cost ore, the  shipping intention is not high, procurement At  one end, due to concerns about the market outlook, they did not dare to  enter the market rashly, so most of them were waiting to see, and the  market for mines changed little.

The  two major listed tungsten APT long-term purchase prices in the second  half of this month are all 161,000 yuan / ton of cash, the bulk of the  transaction is not much, the next market price will mostly refer to the  long single price, compared to last week, The  price of APT is further close to 160,000 yuan / ton, and the price  difference between the price of tungsten concentrate is also shrinking.  In the short term, due to the weak market demand, the market still lacks  strong support for stabilization. The weak stalemate is still the main  market.

The  tungsten powder market has not changed much, the market price has  decreased, and the price of tungsten carbide has fallen back below 260  yuan/kg. The key issue now is not the price, but the order problem. The  order in the powder market is still very small, partly because Downstream  manufacturers are still short-selling markets and do not enter the  market. Another part of the reason is of course that demand is reduced.  There is no need to purchase large quantities. After nearly two months  of consumption, the back-end manufacturers should not have enough  inventory, but only Due  to the above two reasons, the manufacturer will not make a large amount  of replenishment at this time, so it is only used to buy points. Since  the price of the powder and the raw materials still have a price  difference, the possibility of further price declines is greater.

In  summary, the market is weakly stagnant, and the need to stabilize the  market. After the long-term price comes out, the market transaction will  also refer to the long-term quotation, and the next market is still  likely to remain weak.

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