Domestic rhenium market remained firm at high levels this week, featuring upstream tentative shipments, downstream wait-and-see attitude and weak actual transactions. Short-term supply-demand competition intensified, with the industry in a traditional weak off-season. A structural supply gap persists, limiting downside room, and rhenium prices are expected to maintain high-level oscillation.
I. Prices Generally Stable
Rhenium market price volatility was minimal this week with thin trading. Producers maintained normal scheduling and stable quotations; retail participants mainly made inquiries and purchased on dips, with scarce actual transactions. The ammonium rhenate market continued the earlier stalemate, with previous tenders failing due to low willingness of raw material suppliers to sell at low prices.
II. Supply-Demand Game Between Upstream and Downstream
Upstream: Price-supporting stance loosened, with small-batch shipments to test market absorption. Previously, upstream suppliers supported prices and held back sales, leading to tight supply; this week, shipments increased slightly but remained controllable without concentrated sell-off.
Downstream: Restocking completed, with weak purchasing willingness. Most enterprises have sufficient inventories for short-term production and refuse high-priced ammonium rhenate, resulting in strong wait-and-see sentiment and no immediate restocking plans.
III. Market Outlook
Short-term supply-demand competition will continue. With controllable upstream shipments, steady downstream rigid demand and structural supply gap support, rhenium prices have limited downside and are prone to rise but hard to fall, maintaining high-level oscillation.
