China’s Concentrate Price Keeps Firm in Early August due to Tight Supply
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- Category: tungsten‘s News
- Published on Friday, 13 August 2021 10:22
Analysis of latest tungsten market from Chinatungsten Online
China’s ferro tungsten and concentrate prices continue to keep firm despite of deadlocked supply and demand in the market. With the impact of strict environmental checks and natural disaster such as typhoon and flood, raw material output decreases, supporting the tungsten market.
China’s concentrate price hovers around $18,254/ton and suppliers are likely to increase their offers to international customers supported by tight supply; the APT market gains support from high feedstock prices and price is about $304.9/mtu; tungsten powder market is quiet when consumption from downstream cemented carbide companies and other tungsten companies is weak.
From macroscopic respects, the U.S. non-agricultural data was better than expected, and the number of employees increased by 73,000 than expected, the largest increase in the past year. This means that the possibility of the Reserve Bank of America raising interest rates has increased, causing the corresponding gold and bulk commodity prices to suffer a severe drop. The weekly decline in oil prices was 7.7%, a new low since October 2020. It also shows that the entire world economy is still in a sluggish and chaotic state due to the impact of the epidemic, which brings certain uncertainty to the demand and price of the overseas tungsten market.
Link to this article：China’s Concentrate Price Keeps Firm in Early August due to Tight Supply
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