China’s Xianglu tungsten Raised Bid Prices for the First Half of August
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- Category: Tungsten’s News
- Published on Friday, 13 August 2021 10:30
Analysis of latest tungsten market from Chinatungsten Online
China’s ammonium paratungstate (APT) and ferro tungsten prices maintain stability in the middle of August with new bid prices for early this month gradually to be released. Now participants remain low buying appetite and trading is limited.
China’s Xianglu Tungsten released its bid prices for the first half of August: 55% black tungsten concentrate price was $18,254/ton, up $476.2/ton from the second half of July; 55% scheelite concentrate price was $17,539.7/ton, up $476.2/ton; APT price was $303.1/mtu, up $9/mtu compared with last time.
After Australia manipulated the soaring price of iron ore, China cancelled the export tax rebate of all 169 steel products in May and August correspondingly, and increased the export tax of some low-end steel products to 20-40%. The price of steel has gradually transitioned from a steady domestic rise to a skyrocketing overseas market. It is reported that US hot-rolled coil futures prices have risen by more than 80% this year. Obviously, this round of market surge is the joint effect of government promotion and market behavior, and it will also have a certain reaction to the tungsten market.
In the China’s domestic market, steel is the food of the industrial society, and the sharp increase in price will drive up the price of raw materials for domestic production of tungsten products; in foreign markets, due to China's production restrictions and the increase in export costs, the reduction in domestic production shares may be transferred to overseas markets. The enthusiasm of overseas steel mills in production and processing is mobilized, which is expected to drive the consumption in steel-related ferro-tungsten, cemented carbide and tungsten products.
Link to this article：China’s Xianglu Tungsten Raised Bid Prices for the First Half of August
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