Influenced by Jiangxi's Environmental Protection Supervision, Tungsten Price is in a Dilemma

Throughout May, APT prices began an air trip in the past month, rising all the way to more than 180,000 yuan/ton, affected by environmental inspections being conducted in Jiangxi, the world's most important tungsten production center. Until last week, the tungsten price finally stabilized. At present, the prices of the two main tungsten intermediate products, whether ammonium paratungstate or tungsten concentrate, remained basically unchanged.

APT image

Recently, the tungsten price in China has narrowed down, but the development trend of ammonium paratungstate and tungsten concentrate as two main intermediate products is still divergent. Due to environmental protection supervision, the supply and demand of APT are unbalanced, and the price has entered a historical high position. Markets are rivers and lakes, and buyers and sellers are the two main schools of rivers and lakes. They are antagonistic and interdependent. At present, the mainstream view of downstream buyers is that the price of ATP exceeding 180,000 yuan/ton is very high, which affects the production plan and operation of enterprises in the near future. Moreover, it is possible to buy too much now to become a high-ranking panzers. If you don't make money, you will lose your wife and convert your troops. So you might as well go one step at a time and take a step at a battalion. Maintain minimum purchasing requirements.

The tungsten concentrate market is affected by the skirt of environmental protection inspection. Due to the lower start-up rate of downstream smelters, the reduction of stocks and the reduction of consumption of raw materials, the purchase inquiries of smelters for tungsten ore are generally not high, the market supply and demand are under full pressure, and a small amount of transaction prices are adjusted to 110,000 yuan/ton. Since the price of tungsten raw materials has risen for more than nine months, the operating conditions of most miners have been greatly improved, so even if environmental protection has caused a backlog of tungsten concentrate shipments, tungsten miners also have the economic bottom to go through this period. As far as the present situation is concerned, besides Ganzhou, refiners in other areas have not stopped production, and there is still some demand for concentrates. However, most of the miners are unwilling to destroy the hard-won price bottom line by selling goods at a large price reduction. The best way is to face the "clear wind and clouds" of the concentrate market calmly and unchangeably.

In the tungsten powder market, the purchasing resistance of raw materials is relatively high, the cost support is strong, the low-price sales willingness of powder enterprises is not strong, while the downstream alloys and products enterprises are very sensitive and resistant to the price of raw materials, and the order increment is small. Will this eventually lead to the trend of "seawater backfilling", thus destroying the good price soil that has been cultivated? Can make nothing of it. However, if the cost continues to rise, there will be more enterprises or end-users that do not require high product performance to increase the proportion of recycled tungsten.

In short, the tungsten market in June is still facing a dilemma. Unlike in the past, the price of tungsten concentrate and APT did not rise at the same time. It can also be said that the price rise of APT has not been supported by the upstream supply chain and downstream consumption chain, which inevitably has the suspicion of "kidney deficiency" due to insufficient mid-qi. It has been more than a month since the environmental protection supervision, and most enterprises have made some progress in rectification. Some days ago, the Ministry of Ecology and Environment formulated a "one size fits all" work proposal to prohibit environmental protection. Perhaps the impact of environmental protection inspection is gradually weakening. When and how much will APT fall when everything returns to normal? Please continue to pay attention to the tungsten line.




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