This round of tungsten price increases began in mid-November 2023. So far, the price of 65% black tungsten concentrate has increased by 13.45%, the price of ammonium paratungstate has increased by 11.24%, the price of tungsten powder has increased by 10.45%, the price of tungsten carbide powder has increased by 11.03%, and the price of 70 ferrotungsten The price increased by 10.34%, and the price of tungsten bars increased by 5.88%.
The long-term order quotation (13% value-added tax) in the second half of April 2024 is: wolframite concentrate (WO3≥55%) 132,500 yuan/standard ton, which is 6,000 yuan/standard ton higher than the quotation in the first half of the month; scheelite concentrate (WO3≥55%) 132,500 yuan/standard ton; WO3≥55%) 131,500 yuan/ton, an increase of 6,000 yuan/ton from the quotation in the first half of the month; ammonium paratungstate (national standard zero grade) 196,000 yuan/ton, an increase of 7,500 yuan/ton from the quotation in the first half of the month.
It is hoped that all units will be prepared for price increases and reserve inventory reasonably.
The main reasons for the increase in tungsten prices: (1) The supply of tungsten ore is expected to be tight, the resource grade is declining, the national mining total control and environmental protection supervision are tightening, the tungsten ore market shows tight supply and low prices, and the cost aspect continues to move towards the tungsten industry chain downstream conduction. (2) The strategic value of tungsten resources has increased. With the increase in international geopolitical uncertainty and rising risk aversion, the prices of resource varieties including gold, oil, copper, tungsten, etc. have risen in resonance. (3) Rising prices, the continued over-issuance of currency in various countries, and the recent boom in the commodity market have intensified industry concerns about the prospect of inflation, and corporate operating costs are facing increased risks. (4) Demand recovery, the recovery cycle after the global manufacturing industry bottoms out, and the incentives of domestic new product productivity and equipment upgrades and other promotional fee measures, the tungsten market demand recovery is expected to increase.
Possible risks for the tungsten market in the future: (1) traders sell goods at profits; (2) overseas mining resource development and competitiveness increase; (3) manufacturing demand recovery is less than expected; (4) macroeconomic and geopolitical instability Affect international trade demand; (5) Technological changes may increase the substitutability of tungsten products.
Post time: Apr-22-2024
