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China's tungsten market in September has a strong wait-and-see attitude
In September, the domestic tungsten market rose and fell. Among them, the mainstream of tungsten ore remained stable, and the amount of waste tungsten rose slightly. The ferro-tungsten, tungsten chemical and tungsten products still fell in different degrees. Although it has reached the peak season of consumption, but the downstream demand has not been released as scheduled, the market transactions are still tepid, and the price is not strong. The business mentality is generally confused. The high-priced inventory in the early stage is difficult to get rid of. At the current price, the sale is not profitable and the loss is negative. The capital is occupied and the enthusiasm of purchasing is inhibited, which makes the market operation difficult and the wait-and-see mood is very strong. 1. Tungsten concentrate The price of tungsten ore in September was first raised and then declined. The market price in the first ten days climbed slightly. The high price was maintained at around 106,000 yuan/ton. The price dropped in the middle and then stabilized. As of the end of the month, the price of 65% black tungsten concentrate in Jiangxi and Hunan was concentrated at 1.02-10.5 million yuan/ton, which was basically the same as the price at the end of last month. The "Golden Nine" was not good enough, and the market performance was disappointing. The price of one was unchanged from the beginning of the month, and the stocks remained high. The overall market has stabilized and weakened. The supply and demand sides are deadlocked, and spot transactions are rare. Analysis of the reasons for the small increase in tungsten ore prices at the beginning of the month, mostly due to the good reputation of “Golden September and Silver 10†catered to the eagerness of the merchants to rise, which led some holders to blindly raise the offer. However, the price after the increase is lack of demand support, and it will helplessly fall back in the middle of the year, and the market will return to calm. Fubao analysts believe that the current merchants' willingness to quote is weak, the enthusiasm for shipment is low, and the market trading atmosphere is cold. Most market participants are bearish on the market outlook, and the wait-and-see mood is difficult to retreat. It is expected that the tungsten mine market will continue to stabilize in the next month. . 2. The price of ferro-tungsten in the first half of September remained firm. In the middle of the year, the price of the ferro-tungsten was slightly lower. The high position was slightly lower, and the performance in the latter part was relatively stable. As of the end of the month, the mainstream prices in Ningbo and Hunan are currently concentrated at 171-74 million yuan/ Ton. Overall, the amount of tungsten iron inquiries in September increased slightly from last month, the market downturn situation was alleviated, and the market chaotic quotation situation improved, and the transaction also improved slightly, but some manufacturers still maintain a wait-and-see attitude. The price of ferro-tungsten will remain stable next month, or slightly weaker. 3. Tungsten Chemical Industry's domestic ammonium paratungstate (APT) market fluctuated greatly in September. At the beginning of the month, the price rose slightly, and the low level rose slightly. However, the high position subsequently fell, and the gap in merchants' price narrowed; the middle was basically stable, and the market transactions were extremely deserted; In the latter half of the year, the APT market was huge due to huge stocks. Some merchants were unable to hold pressure and started to sell at low prices. The market price plummeted by 2,000 yuan/ton. By the end of the month, the mainstream price of the APT market was maintained at 158-622,000 yuan/ton. Affected by upstream raw materials, the price of sodium tungstate rose slightly at the beginning of the month, but the good times did not last long. As the price of tungsten ore fell, the sodium tungstate weakened with the market and then continued to operate smoothly. By the end of the month, the domestic 96% sodium tungstate was quoted at 13-13.2 million yuan/ton, down 1,000 yuan/ton from the high level at the end of last month. It is reported that some producers continue to reduce production, traders only purchase the replenishment stock in moderation, the actual transaction volume is not large, the market is still dominated by wait and see. 4. Tungsten products In September, the market performance of tungsten carbide was deserted, the manufacturers' prices fell, and the mainstream prices were lowered. The actual market transactions were mostly concentrated at 255 yuan/kg. Fubao expects that during the 11-day holiday, the market will run smoothly and demand will remain weak. Tungsten wire, tungsten rods, tungsten electrodes and other deep processing markets have fewer procurement activities. The manufacturers strictly follow the orders, and there are not many orders in September. The manufacturers have insufficient price adjustment, so the price fluctuations are not large and basically run smoothly. 5. Waste tungsten In the first ten days of September, the market for scrap tungsten steel showed an upward trend. Under the expectation of “Golden Nineâ€, some manufacturers purchased in moderation, which drove the downstream demand to be released slightly. In addition, in the case of tight supply, some traders bought low-priced bulk cargo, waiting for the market to rise when the market rose, and promoted the intermediate circulation gradually became active. In the middle of the year, with the decrease in the procurement of downstream manufacturers and the lack of confidence of the merchants in the market, the prices fell slightly. With the arrival of the 11th holiday, the market wait and see atmosphere is gradually warming up.