Tungsten market on April 18, 2023

Tungsten market on April 18, 2023

The tungsten price has ended the downward cycle and entered the stage of upward exploration. First, Jiangxi, the main producer of tungsten raw materials, started a new round of environmental protection supervision, reminding the market of supply and cost pressure; Second, due to the rising temperature and thunderstorm weather in the south, increasing the resistance of mining and supply; Third, because the alloy end concentrated replenishment orders entered, boosting the performance of market demand; Four is due to a new round of large tungsten enterprise long single quotation, incentive industry participation confidence.

It is worth noting that the recovery signal of the consumer market is not clear at present. In the context of the complex and unstable external environment, the market risk appetite is low and the potential release of demand is restrained. Therefore, the actual rebound cycle and amplitude of tungsten price are still to be discussed. And changes in various risk factors such as high external inflation, US dollar interest rate hike and local geopolitical conflicts.

According to China Tungsten Online, Xiamen Tungsten Industry in the second half of April 2023, ammonium paratungstate long single purchase price is 175,000 yuan/ton, compared with the first half of the price increase of 1500 yuan/ton.

 

Molybdenum market on April 18, 2023

The overall center of gravity of domestic molybdenum price still moved down slightly, mainly due to the strong sentiment of downstream users to lower prices and the high enthusiasm of most suppliers in shipping. However, in the low price of ferro molybdenum and stainless steel plant due to the bottom of the steel price rebound and gradually resume production, ferro molybdenum demand has increased, and the price decline gradually narrowed. Through the industrial chain conduction, molybdenum concentrate, molybdate, molybdenum powder and molybdenum strip prices are also expected to stop falling in the short term.

According to the understanding of China Tungsten Online, recently, the steel enterprises bidding for ferro molybdenum include Qingshan Holding Group, Shanxi Taigang, Baosteel, Xinyu Iron and Steel, Xinyu Iron and Steel, Fushun Special Steel, Yunnan Kungang wear-resistant material Technology, and so on. In addition, it is worth mentioning that in March, many stainless steel factories cut production due to severe profit losses, and the price of ferro molybdenum continued to drop significantly, the production of ferro molybdenum manufacturers slowed down the speed of production release, resulting in a month-on-month decrease of 4.21% in China’s ferro molybdenum production.