Tungsten-what is the future trend July 8, 2020 Tungsten Daily Review

July 8, 2020:

Today, the three major A-share indexes rose collectively, the shipbuilding sector surged, and the aerospace, brokerage, rare earth, non-ferrous metals and other sectors rose ahead. As of the day's close, the rare earth permanent magnet sector rose more than 5%. Xiamen Tungsten Industry, China Tungsten High-tech, Zhangyuan Tungsten Industry, Xianglu Tungsten Industry, Luoyang Molybdenum Industry all rose one after another. The stock market has recently warmed up significantly, while the tungsten spot market is still relatively deserted.

Tungsten City:

Since mid-June, the price of tungsten has been in a stalemate and the dilemma. When faced with the choice of the future market direction, it is crucial to which side supply and demand dominate.

At present, there is basically no new bright spot in the tungsten spot market, and the transaction work is carried out step by step. Under the influence of many uncertainties in the future market, the manufacturers have no active willingness to stock up, the inventory remains low, and the output of APT and tungsten powder production companies has a downward trend. The main reasons are Some enterprises arranged for mid-year maintenance in July, but the demand did not show positive performance, and sales were met to reduce production output. Domestic tungsten mines are selling sandstones or loans to ease current funding pressures, so selling tungsten concentrates is no longer the only option, and the ability to withstand funds is gradually increasing. The price of tungsten concentrates is about 80,000 mark.

How about the market outlook:

The tremendous impact of the overseas epidemic on the world economy continues to develop and evolve, and the external risk challenge has increased significantly; the recent epidemic in some parts of the country has been repeated, showing the complexity and long-term impact of the epidemic. At present, domestic domestic demand is slowly recovering, and China's exports of tungsten products are still experiencing bottlenecks. However, if exports can be improved around September, then it is likely that tungsten prices will ride the wind and waves.