During the Spring Festival, the financial market performed hotly and the external market continued to rise sharply. The Japanese stock market hit a 30-year high, and the US stock market kept breaking new records. Commodities performed well, international oil prices broke through the $60/barrel mark, international copper futures prices were close to their highs since May 2012, and tin prices soared.

International Tungsten Market: There are still foreign order inquiries during the holiday period. The trends of international tungsten and APT are different, and there is not much guidance.

Domestic tungsten market: Today is the first working day of the lunar year of the ox. Although nearly half of the mines have not resumed work, many APT companies have officially resumed work today, and many have not resumed official quotations, and their mentality is in line with 140,000 and above.

During the Spring Festival, there are fewer smelters that normally produce, and the supply has been recovering from mid-to-late February. It is expected that quotations and transactions at the raw material end will have upward momentum.

Most tungsten powder manufacturers do not have a holiday during the Spring Festival, and currently maintain a relatively high operating rate. Based on the expectation that raw materials are difficult to drop, their mentality remains firm. Looking forward to the long-term quotations of large tungsten companies on February 20th and February 25th, to show the direction for the industry!

The overall trend this year is expected to rise steadily. The reasons are as follows:

1. The US dollar is overflowing with liquidity, and funds are still relatively abundant.

2.At the macro level, the global epidemic has been controlled, the US economic stimulus policy is about to begin, and the procyclical non-ferrous metals will usher in a bull market.

3.With the recovery of the economy, the demand side will usher in a recovery, supporting the strength of the raw material side.

4.Large tungsten companies hold each other in groups, purchase each other internally, and have basically the same pace of external quotations. The trend can be referred to the organization of big A shares in 2020.

To sum up, the capital side, the macro side, the supply and demand side, and the operation side all show that the tungsten market this year is worth looking forward to! The new journey has begun, grasp the moment, strive forward, and step on the rhythm. I hope that the tungsten industry colleagues will be bullish in the Year of the Ox!