Tungsten prices continue to stabilize, and the supply-demand stalemate continues. On the one hand, the scarcity of tungsten resources and the value attributes of strategic resources continue to support the market. On the other hand, buyers are afraid of high prices and have no intention to follow up with more mining, and transactions are negotiated on a case-by-case basis. The market volatility trend is not clear yet, and participants generally take a wait-and-see attitude. Recently, attention is paid to the long-term purchase price of each tungsten company in the second half of the month.
The price of 65% black tungsten concentrate is temporarily stable at RMB 172,500/ton. Driven by tight supply and speculation on strategic resources, the current seller's offer is still strong, but the high price suppresses downstream purchasing enthusiasm, and the market liquidity is poor.
The price of ammonium paratungstate (APT) remains at RMB 252,000/ton. The factory's operating rate is limited, mainly due to the difficulty in mining raw materials and high costs, and the lack of demand orders. The market is in a dilemma and new orders are cautious.
The price of tungsten powder is RMB 378/kg, and the price of tungsten carbide powder is RMB 372/kg. The stalemate between supply and demand is common, raw materials are rarely sold at a low price, downstream terminals are cautious in purchasing, the overall market is sluggish, dominated by rigid demand, and the market is sideways.
The price of 70 ferrotungsten is RMB 258,000/ton. Market sentiment is relatively stable, mainly supported by raw material costs and steel demand. The industry's quotations are still relatively strong, and orders other than rigid demand are cautious.
The price of scrap tungsten is under certain pressure. Suppliers are appropriately shipping to cash in, and demanders are looking for cost-effective resources. The market bargaining sentiment has increased significantly, and liquidity is still constrained by the stalemate of the industrial chain.
In terms of macroeconomics, according to the National Bureau of Statistics, from January to May, my country's industrial added value above designated size increased by 6.3% year-on-year; the national fixed asset investment (excluding farmers) was 19194.7 billion, a year-on-year increase of 3.7%, of which private investment was flat year-on-year. The national urban survey unemployment rate was 5.2%. In May, the total retail sales of consumer goods was 4132.6 billion, a year-on-year increase of 6.4%. Macroeconomic data in May continued its moderate recovery trend, optimizing the consumption environment for tungsten products. However, the current contradiction in the tungsten industry chain, "strong upstream, blocked midstream, and weak downstream", still needs to be resolved through improvements in actual terminal orders.
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