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China’s Tungsten Price Remained Stable Affected by Quiet Demand

Posted by: Yoyokuo 2021-08-16 Comments Off on China’s Tungsten Price Remained Stable Affected by Quiet Demand

China’s tungsten Price Remained Stable Affected by Quiet Demand

Category: Tungsten’s News
Published on Monday, 16 August 2021 19:00

Analysis of latest tungsten market from Chinatungsten Online

China’s tungsten price remained stable in the week ended on Friday, August 13, 2021 due to continued deadlocked supply and demand in the market. Raw material suppliers considered profit-taking while downstream buyers gradually stabilized their consumption. 

The supply of tungsten raw materials kept tight in the first half of August. Natural disasters such as typhoon and floods in many areas of China many continue into September, affecting raw material production. In October, the safety production control of mines will also be increased before and after the National Day, plus with strong rised mentality of suppliers, market resources would be limited. 

The cost is expected to remain high as well. Domestic low-carbon environmental protection requirements raise the input threshold for smelting enterprises. The recent summer peak and staggered power consumption measures have increased the production expenditure of enterprises to a certain extent. In addition, large enterprises have also invested in normalization of epidemic prevention and control. 

The pressure on the demand side still exists. On the one hand, buyers are resistant to high-level raw materials at the psychological level, and more importantly, due to the suppression of downstream terminal consumption by the epidemic. Although the current economy and manufacturing industry are expected to continue to recover, the sales pressure of foreign trade companies caused by rising international shipping prices is still severe. Certainty, such as fluctuations in the US dollar policy have a direct impact on inflation expectations and commodity prices, and will also indirectly impact the tungsten industry.

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