China’s Ferro tungsten Market Stabilizes on Quiet Trading Activity in Early September
- Category: Tungsten’s News
- Published on Wednesday, 08 September 2021 09:01
Analysis of latest tungsten market from Chinatungsten Online
China tungsten market remains stalemate in early September in the wake of stricter environmental checks and continued spread of epidemic. The cost keeps firm and supply is tightening while large-scale infrastructure and fiscal stimulus at home and abroad are expected to release new consumption potential.
In the tungsten concentrate market, market resources may gradually decrease with the approaching of the Mid-Autumn Festival and National Day. Coupled with the improvement of weather conditions in September and the accelerated issuance of local bonds, the successive development of key infrastructure projects in various regions is expected to drive the release of related tungsten products demand. Therefore, most miners are optimistic about the outlook.
In the ferro tungsten market, the external benefits are gradually being digested by the market. The loosening of the supply and demand fundamentals in the market has affected the market downward. The price of 70% ferro tungsten is adjusted at about $26,349.2/ton. In terms of steel mills, the production cuts and shutdowns in September puts a certain pressure on the demand side, but the economic stimulus plan and the positive expectations of the post-epidemic era, global end-user consumption conditions are good, and the industry is relatively optimistic about price expectations. The British steel research institute MEPS expects global stainless steel production to increase by 11% year-on-year to 56.5 million tons in 2021.
Reprint Statement: If there are no special instructions, all articles on this site are original. Please indicate the source for reprinting:Tungusten，Thanks！^^