Supply and Demand of Domestic Tungsten Market

International aspects, the PMI of British Market services in June hit low points for four months, which may weaken efforts of British Bank to turn to Eagle. 

Gao Shen suggested that pounds may fell to 1.20 in the future. Because the supply continues to increase while multiple resistances are suppressed, American crude oil prices have plunged. Euro retail sales per annum in May are higher than expectations. The euro against dollars recovered after reached the lowest point. Japan first quarter output gap rose to 0.79%, improving the possibilities of economic growth and inflation.

As for domestic markets, the PMI of China Caixin service industry in June turned to 51.6 again, creating a minimum record for a year and bringing down the integrated PMI. On the mainland, the exchange rate of the rmb is reported to 6.7993, rising 6 points compared to the last trading day. Looking from the data of Chinese Ministry of Commerce, we can see that, from January to  May, the total imports and exports of services, in steady growth, increased by 9.2% year-on -year. China Central Bank said that domestic economic operation is kept within the proper range, and the long-term good tendency of economy didn’t change.
 
As for the tungsten industry, domestic supply and demand remained deadlocked, and the market attached high attention to average guidance prices in July that Ganzhou tungsten Association gave. On one hand, under the influence of environmental supervision hot weather and rainstorms, the capacity of tungsten mines was limited. Tungsten raw material concentrates are in short supply, making some manufacturers offer higher quotations. On the other hand, though tungsten powder market is cost-squeezing, price still have difficulty in making a breakthrough, considering downstream effects of rare orders. Before the guidance price is introduced, tungsten markets mostly value the goods
 
Today’s prices of tungsten products
 latest price of tungsten concentrates,tungsten carbide and tungsten bar image

 

 

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