Cemented Carbide Enterprises Raised Offers Due to the Rising Prices of tungsten and Cobalt Raw Materials
- Category: Tungsten’s News
- Published on Friday, 23 July 2021 17:57
Analysis of latest tungsten market from Chinatungsten Online
China’s domestic tungsten price remains strong as a whole in late July. With the increase in cost of epidemic prevention, environmental protection, manpower, etc., and declined ore grades resulting in more difficulty of mining, manufacturers become more reluctant to sell their products.
Affected by the rising prices of tungsten and cobalt raw materials, downstream cemented carbide enterprises have simultaneously raised product prices, despite the overall market demand keeps weak. With the gradual emergence of domestic and foreign epidemic prevention results and the recovery of industry export, the industry's confidence in the recovery of terminal consumption has increased. In the short term, the market will keep strong with cautious sentiment of participants.
According to customs data, China's tungsten exports in June 2021 were approximately 2,23.61 tons, an increase of 27.94% month-on-month and 92.86% year-on-year. Among them, the export volume of tungsten trioxide (660.2 tons), APT (448.1 tons), tungsten carbide (532.69 tons), and ferro tungsten (235 tons) in June increased by 99.12, 246.29%, 12.79%, and 87.25% respectively. Tungsten powder (104.31 tons) decreased by 37.37% from the previous month.
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