Analysis of latest tungsten market from Chinatungsten Online
China tungsten prices held steady on Monday, with the market atmosphere remaining somewhat awkward. Suppliers showed less willingness to lower prices, while buyers took a slow-paced approach to restocking. Demand was tepid, and the market lacked a clear direction for either an upward or downward trend. The tungsten market continued to hover in a stalemate, with light trading activity and a wait-and-see approach as participants anticipated the final round of annual long-term contract prices from key tungsten enterprises.Tungsten Concentrate: Prices stood at $20,140.8/ton. Transactions at higher price levels were scarce, with downstream buyers showing limited enthusiasm for proactive restocking, maintaining only minimal rigid replenishment.Ammonium Paratungstate (APT): Prices hovered around $334.2/mtu. Ongoing cost and demand pressures have constrained market movements, with manufacturers showing low enthusiasm for production.Tungsten Powder & Tungsten Carbide Powder: Tungsten powder was priced at $44.5/kg, and tungsten carbide powder at $43.8/kg. End-user consumption remained lackluster, with limited buying and selling activity, resulting in a subdued trading atmosphere overall.Ferro-tungsten prices were reported at $30,281.7/ton. The market showed a strong wait-and-see sentiment, with participants awaiting further clarity on cost trends and bidding activities from steel mills.Scrap Tungsten: Prices remained flat, with cautious sentiment prevailing among market participants. Buyers showed limited enthusiasm for restocking amid uncertainty surrounding the primary raw material supply.According to data from the People’s Bank of China, at the end of November: Broad money (M2) balance reached RMB 311.96 trillion, a year-on-year increase of 7.1%. Narrow money (M1) balance was RMB 65.09 trillion, down 3.7% year-on-year. Currency in circulation (M0) amounted to RMB 12.42 trillion, a year-on-year increase of 12.7%.For the first 11 months of the year: RMB loans increased by RMB 17.1 trillion. Aggregate social financing grew by RMB 29.4 trillion, RMB 4.24 trillion less than the same period last year.
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