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Recently, following the guidance price of China Minmetals to increase 65% tungsten concentrate to 125,000 yuan / ton, Jiangxi Ganzhou Tungsten Industry Association also raised the November offer of 10.7 / ton to 11.6 / ton. The price increase of tungsten concentrates by China Minmetals and Yanzhou Tungsten Industry reached 13.6% and 8.41% respectively. After the price of tungsten concentrate fell to the bottom in September, this was the second consecutive month of rebound, and the price rebounded to 15%.
“Tungsten prices have entered a downturn from April to May this year, and downstream APT producers have stopped production to consume higher inventory. This state has continued until October.†Baichuan Information Tungsten Industry Analyst Zheng Yueguang told reporters "From the past experience, the tungsten price has the cyclical characteristics of "Golden September, Silver 10", which is the traditional sales season. But after entering this year, the price continues to decline, and it is approaching the production cost of enterprises. Many companies are not willing to Selling at a lower cost price and starting to stock up."
As the inventory of downstream enterprises gradually consumes, the demand for replenishing stocks of enterprises is gradually released, and tungsten prices are gradually picking up. “The price increase has two backgrounds: First, in mid-October, the Jiangxi Provincial Government proposed to protect the strategic resources such as copper, tungsten and rare earth produced by state-owned enterprises in the province. Second, Minmetals Group and Jiangxi The Ganzhou Tungsten Industry Association has intensified the guidance price of tungsten concentrates and has the intention to promote market expectations." An industry insider analyzed the price increase.
In October this year, the Jiangxi Provincial Government official website released information and decided to establish a province-wide industrial and foreign trade promotion production and growth coordination mechanism, focusing on “including the strategic resources of copper, tungsten and rare earth produced by state-owned enterprises in the province. Eight jobs including storage. This makes Jiangxi the second province after Yunnan to store and store resource products.
Abstract Recently, with the continuous decline of inventories of downstream buyers and the re-release of procurement demand, tungsten prices have been pushed into the rising channel, contributing to the performance of tungsten production enterprises. However, from the market reaction point of view, industry experts are more cautious about the trend of tungsten prices in the market, and whether the rising momentum will continue will still take...
Recently, as the inventory of downstream buyers continues to decline, the re-release of procurement demand has pushed tungsten prices into the rising channel, contributing to the performance of tungsten production enterprises. However, from the perspective of market reaction, industry experts are more cautious about the trend of tungsten prices in the market. Whether the rising momentum will continue will depend on downstream demand.