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China Tungsten Price Rose Affected by Raised Bid Prices for Late July

Posted by: Fymicohuang 2021-07-26 Comments Off on China Tungsten Price Rose Affected by Raised Bid Prices for Late July

China tungsten Price Rose Affected by Raised Bid Prices for Late July

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Category: Tungsten’s News
Published on Monday, 26 July 2021 18:17

Analysis of latest tungsten market from Chinatungsten Online

China tungsten price continued to be in the upward trend in the week ended on Friday, July 23, 2021 affected by the rise in new bid prices for the second half of this month, cemented carbide companies’ second price increases within a month and a boost in exports. 

The price adjustment letter from cemented carbide companies can give you a glimpse of the current hot market. The price of tungsten and cobalt raw materials has risen, product manufacturing processes have been upgraded, freight and labor costs have increased, market supply is tight, commodities and economic conditions have changed, etc. The increase in investment in production and operation of enterprises has forced adjustments in product prices.

It is worth noting that there is no obvious bright spot in the demand side. Due to the cost side, the profits of intermediate smelters and downstream companies have been compressed. In addition, the actual trading atmosphere of the spot market is restricted and orders are rarely concluded. most participants became more cautious. 

On the whole, although the psychological price of buyers and sellers differs in the market outlook, the whole market remains strong. The industry believes that with the rapid growth of domestic demand driven by concepts such as new infrastructure and new energy, overseas epidemic control and economic recovery drive external demand to warm up, the tungsten market will maintain a steady mid- to long-term trend. Due to the simultaneous follow-up of alloy products, it is not likely that the short-term market suddenly reverses, but stability and continuity remain to be verified.

Link to this article:China Tungsten Price Rose Affected by Raised Bid Prices for Late July

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