tungsten Powder Price Edged Lower in Early September on Low Confidence
- Category: Tungsten’s News
- Published on Thursday, 09 September 2021 11:43
Analysis of latest tungsten market from Chinatungsten Online
China’s ammonium paratungstate (APT) and tungsten powder prices edged lower on September 8, 2021 affected by the decline in new long-term contract prices for the first half of this month.
For raw material miners, under the normalization of environmental protection, resource development costs remain high, and industry concentration has increased. Most of them are still optimistic about the market outlook; For smelters and intermediary traders, there is greater pressure on the market’s raw material purchases and product sales, so they are more cautiously sorted out according to their own financial conditions. The demand for replenishment of downstream terminals is delayed. Most of them take a watchful stance for the changes in the global epidemic and the international economic and trade situation.
From a macro perspective, the United States added 235,000 non-agricultural jobs in August, far below market expectations of 750,000, which is the smallest increase since January 2021. It alleviates concerns about the Fed’s tightening of monetary policy and boosts the metal market’s sentiment to a certain extent. However, due to the fact that the unemployment rate has remained relatively good, there are still relatively large uncertainties on the macro level, and the rebound in overseas market demand has yet to be confirmed.
Link to this article：Tungsten Powder Price Edged Lower in Early September on Low Confidence
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