【CBC Monthly Review】In May, the transaction atmosphere of the tungsten industry chain was good, and the market price continued to rise

　　In May 2024, the average monthly price of China's tungsten concentrate (WO3: 65%) market was 151905 yuan/ton, an increase of 15.03% from the previous month, and the mainstream price rose from 140,500-145,500 yuan/ton at the beginning of the month to 150,500-155,500 yuan/ton at the end of the month. 

　　In May 2024, the average monthly price of tungsten oxide (WO3≥99.95%) in China was 247,500 yuan/ton, an increase of 12.62% from the previous month, and the mainstream price rose from 232,000-234,000 yuan/ton at the beginning of the month to 249,500-251,500 yuan/ton at the end of the month. 

　　In May 2024, China ferro-tungsten (W: 75~85%; FeW80-A/C) market average monthly price of 231429 yuan/ton, up 17.21% from the previous month, the mainstream price rose from 210,500-211,500 yuan/ton at the beginning of the month to 236,500-237,500 yuan/ton at the end of the month. 

　　In May 2024, China's ammonium paratungstate (WO3: 88.5%; APT) market monthly average price of 224214 yuan/ton, up 14.91% from the previous month, the mainstream price rose from 210,000-211,000 yuan/ton at the beginning of the month to 226,500-227,500 yuan/ton at the end of the month. 

Comprehensive: 

      This month, the overall transaction atmosphere of the domestic tungsten product market is good, the market price continues to rise, and the price of tungsten products at the beginning of the month has risen slightly and there is no sign of slowing down and stopping. The tungsten ore mining at the raw material end is insufficient, the supply is tight, the quotation of the merchants holding the goods continues to rise, the sentiment of covering the goods and reluctant to sell dominates, and the upstream and downstream products are rising simultaneously; In addition, a new round of environmental protection inspections was fully launched in May, and the long-term order prices and guidance quotations of large tungsten enterprises continued to rise, which provided strong support and incentives for the steady upward trend of the tungsten market. In mid-to-late May, as the tungsten market hit a record high, the overall pace of rise slowed down again, the stalemate and game situation intensified, the phenomenon of price but no market became more and more obvious, and the downstream market for the acceptance and recognition of the high-price market was relatively poor, and the market fell significantly. 

Market outlook: 

      In the short term, the domestic tungsten price continues to stalemate the game, the downstream market for the high-price market acceptance and recognition is relatively poor, although the mine end shipment circulation has improved compared with the previous period, but the downstream enterprises in order to avoid the production inversion and loss risk for the purchase of high-priced raw materials still maintain a cautious on-demand purchase operation, the upstream and downstream development of the industrial chain is unbalanced, the market demand is weak, resulting in smelters forcing raw materials to continue to reduce prices, so it is expected that the market will continue to fall, continue to pay attention to the company's long orders and environmental protection news updates. 

Long-term forecast:

       In the long run, tungsten market products will gradually enter a high-level consolidation cycle, when the market stalemate continues, it is necessary to fully consider market conditions, supply and demand, cost and expected profits and other factors, so as the tungsten market enters the rational, the overall market transaction atmosphere of domestic tungsten products will gradually improve, coupled with the end of environmental inspection, the domestic tungsten ore production will increase, and the sales of imported tungsten ore will also alleviate the tight pattern of the market.Therefore, the market of tungsten products will be affected by the supply of ore ends, or even decline slightly.

　　[Reprint needs to keep the source - CBC Metal Network] [CBC Monthly Review] In May, the transaction atmosphere of the tungsten industry chain was good, and the market price continued to rise https://www.cbcie.com/news/1365044.html