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China’s Domestic Tungsten Price Remained Firm in the Middle of July

Posted by: Fymicohuang 2021-07-16 Comments Off on China’s Domestic Tungsten Price Remained Firm in the Middle of July

China’s Domestic tungsten Price Remained Firm in the Middle of July

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Category: Tungsten’s News
Published on Friday, 16 July 2021 11:40

Analysis of latest tungsten market from Chinatungsten Online

China’s domestic tungsten price continues to be on an upward trajectory on July 15, 2021 affected by relatively tight supply and good market confidence. 

On the supply side, as mines and smelters resume their raw material production, the supply is gradually stabilizing, and raw material inventories have accumulated due to sales pressure under the high offers in the market. In addition, how to digest the Pan-Asia legacy APT is still worthy of attention. However, due to the increase in the input of raw materials and the increase in freight costs, coupled with the support of the market mentality of the holders, the supply in the market has remained tight. 

On the demand side, downstream terminals are more cautious about firming costs, and are generally motivated to take the initiative to take goods. In addition, the international consumption is affected by the epidemic and geo-risks, which means market demand are facing more uncertainties. However, as the epidemic stabilizes, the domestic and foreign economic and trade environment has recovered and the demand for new infrastructure has begun, the industry believes that market consumption is expected to further recover in the third quarter, and market psychology is expected to be good. Although most participants are cautious, the overall market remains firm.

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