Backend still sluggish

Writer： admin Time：2023-11-09 09:37:43 Browse：439℃

The recent weak adjustment of the tungsten market as a whole has led to a significant decline in orders for some alloy enterprises due to the lack of substantial improvement in terminal consumer demand. The demand for purchasing powder has weakened, further suppressing the raw material market. In the short term, this trend is difficult to change substantially, and the raw material market is likely to continue to decline under pressure.


At present, the tungsten ore market has a price of around 1.67 yuan/kg of 55 degree black tungsten rough sand, and buyers are still interested in lowering the price. Some processing enterprises have also lowered the price of a small amount of 60 degree black tungsten rough sand to 1.67 yuan/kg, but some suppliers have no intention of shipping.


At present, APT's main quotation is mostly at 177500 yuan/ton, but due to the impact of the price reduction of long-term orders, buyers can only quote as low as around 177000 yuan/ton. Some companies have no follow-up orders for processing, resulting in a significant decline in production.


With the weakening of raw materials and sluggish demand in the powder market, some companies have also lowered their prices, and mainstream prices have gradually fallen back to around 265 yuan/kg. Tungsten carbide has fallen behind the 260 yuan/kg mark in signing orders.


The cobalt powder market continues to remain stagnant at 230 yuan/kg, with few orders following up. Due to delays in alloy procurement plans, demand for tungsten carbide and cobalt powder is significantly weak.


The hard alloy market continues to compete in price, and some products are in a state of profit making. Due to the continuous decline in raw material prices, some alloy products are also under significant pressure to lower prices.


Based on comprehensive analysis, the tungsten market is currently in a bearish state, with no obvious signs of improvement since late August. The tight funding at the end of the year will further lower market expectations. Fortunately, the tight supply in the tungsten ore market can still support the market foundation and can only maintain a gradual downward trend in the short term.