Tungsten Market Quotes on April 18, 2023
Tungsten prices ended the downward cycle and entered the upward phase, one is due to the main source of tungsten raw materials Jiangxi opened a new round of environmental protection inspectors, reminding the market supply and cost pressure; two is due to rising temperatures and thunderstorm weather in the south, increasing mining and supply resistance; three is due to the alloy end of the centralized replenishment order entry, boosting market demand performance; four is due to a new round of large tungsten enterprises long-order offer upward, incentivizing the industry to participate Confidence.
It is worth noting that the current consumer market rebound signal is still unclear, in the external environment is still complex and unstable, the market risk appetite is low, demand release potential is inhibited, so the actual rebound cycle and magnitude of tungsten prices is still open to question, continue to pay attention to the market fundamentals adjustment, as well as external inflation, the dollar interest rate hike, local geopolitical conflicts and other kinds of risk factors changes.
According to Chinatungsten Online, Xiamen Tungsten’s long-order purchase price for ammonium paratungstate in the second half of April 2023 was 175,000 yuan/ton, an increase of 1,500 yuan/ton compared with the offer in the first half.
Molybdenum market sentiment on April 18, 2023
The overall center of gravity of domestic molybdenum prices remained slightly downward, mainly attributed to the strong price suppression sentiment of downstream users and the high motivation of most suppliers to ship. However, with ferromolybdenum prices at a lower level and stainless steel plants gradually resuming production due to the bottoming out of stainless steel prices, ferromolybdenum demand increased and the price decline gradually narrowed. By industry chain conduction, molybdenum concentrate, molybdate, molybdenum powder and molybdenum bar prices are also expected to stop falling in the short term.
According to Chinatungsten Online, recently, the steel companies that entered the bidding for ferromolybdenum are Qingshan Holding Group, Shanxi TISCO, Baosteel, Xinyu 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, in many stainless steel plants facing serious profit losses and production cuts and shutdowns, as well as at that time, ferromolybdenum selling prices continue to decline significantly, the release of ferromolybdenum manufacturers capacity has slowed down, resulting in China’s March ferromolybdenum production fell 4.21% compared to the ring.
