1、The tungsten ore market continues to decline

Recently, tungsten ore prices have continued to decline, and the raw material market has been under pressure to shrink. Due to the sentiment of "buying up 

but not buying down", market trading volume has been sluggish, presenting a situation of unlimited short falls. The market lacks confidence support, and with 

the significant reduction in long-term quotes from large enterprises, tungsten ore prices continue to decline.

2、The APT market lacks price support for long orders

At present, APT is facing pressure to continue falling after a significant increase in the early stage, forcing buyers to maintain a wait-and-see attitude of buying 

up instead of buying down. The market situation has not received strong support after the new round of large enterprise long-term orders are announced, and 

coupled with the continuous suppression of demand from various aspects, there is still some room for market downturn.

3、Low demand from alloy enterprises, bearish raw materials not yet centrally procured 

Recently, the price of tungsten raw materials in the market has been unstable, and it has significantly declined under the influence of long order prices. 

Meanwhile, the hard alloy market is in a stage of low demand, so we temporarily choose to be cautious and observe to avoid accepting orders at high levels.

4、The waste market still shows certain signs of weakness in various regions

Taking 5 cobalt grinding material as an example, the powder product has a market circulating quotation of 2 yuan/kilogram degree and is under certain 

pressure; Although alloy bars have some support due to the impact of low prices and reluctance to sell in the later stage, there is still room for adjustment in 

the market due to the downward trend in pricing.

5、The tungsten iron market is experiencing a downward trend

The new round of quotes from major manufacturers has led to a downward trend in the entire tungsten industry chain, which in turn has affected the tungsten 

iron market. Tungsten iron manufacturers have successively adjusted their prices.

6、HYW believes

With the new round of large enterprise long order quotations falling more than market expectations, the downward pressure on the tungsten ore market has 

intensified, and the downward trend is obvious. In order to avoid the risk of further decline in the raw material market, most purchasing enterprises in the 

middle and lower reaches are cautious and cautious. The few essential purchases are also mainly focused on a small amount of diversified operations. 

The current price of 55 degree tungsten ore with tax included in this long order has even directly dropped to 145000 yuan/ton.

Based on the two major long orders that have been announced so far, the raw material market has seen a significant decline. The price of APT long orders has 

directly dropped to the range of 216000-217000 yuan/ton, which has greatly disappointed some production enterprises and traders who originally hoped for a 

stable price of around 220000 yuan/ton. After the support of long order prices is lost, the current APT smelting process is under great pressure. The powder 

market quotation has been further lowered, but there are still concerns about the decline in raw material prices, which has led downstream processing 

enterprises to continue adopting a wait-and-see attitude in procurement, only considering a small amount of demand for the current price range of powder, 

and the stocking plan has been repeatedly delayed. The activity of the waste market is relatively low, and after the release of new long-term orders, 

it has not been adjusted in a timely manner. It is expected that the stalemate will continue to weaken.