Tungsten projects see some action.

APT tungsten prices are holding steady at $400 to $410 per metric ton unit (mtu). And with summer coaxing tungsten traders into relaxation, tungsten exploration, development and mining companies are hard at work on their projects.

One of the fastest-moving brownfields projects for tungsten is Wolf Minerals Hemerdon project in the United Kingdom. The ASX-listed company is working hard at developing the project in order to bring it back online. In June, Wolf reported the first drawdown from the US$82-million funding package by Resource Capital Fund. The company also announced the start of a GBP75 million (~AU$123 million) Engineer Procure Construct contract with GR Engineering Services.

More recently, Wolf engaged CA Blackwell (Contracts) for a mining services contract valued at GBP85 million (AU$140 million).

Blackwell is expected to commence its work contract at Hemerdon sometime in March 2014. Per the contract agreements, investors can expect work to be completed at the project in two parts. Phase one of the contract will include mine stripping and development for which the company anticipates an 11-month timeframe. The second phase of the contract will be undertaking the development of the Hemerdon mine, which should take up to five years to complete once phase one has been finalized.

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China tungsten bar prices move up slightly

The tungsten metal market runs slowly in China. The market participants are still inactive in making deals, and the market remains quiet for the moment.

As the raw materials prices move up sharply, some tungsten bar suppliers raise offers. However, the demand from the downstream market is weak, and the trading volume is small.

You can visit the following links for more information about  tungsten bar prices.

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Japanese tungsten market runs slowly.

Sources in Japanese tungsten market reported that the market sees little improvement and most consumers watch the market.

The Japanese economic situation is hard to be warmer shortly, so the consumption for tungsten products does not increase.

You can visit the following links for more information about  tungsten prices.

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Tungsten export market remains quiet in China.

Tungsten export market remains dull this week. Many overseas customers will leave for summer holiday in August, and they are unwilling to add stocks in large quantities.

Owing to the increasing tungsten prices in China, the tungsten export prices are firm now. 

You can visit the following links for more information about tungsten export market.

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China tungsten concentrate market sees few deals.

China tungsten concentrate prices are stable this week. But most of the market participants hold wait-and-see attitudes towards the future market, and the trading volume is small in the spot market.

A tungsten concentrate trader based expressed that the tungsten concentrate market is quiet this week and the prices are stable.

You can visit the following links for more information about  tungsten concentrate prices.

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China ammonium paratungstate prices (APT  prices) keep firm.

China ammonium paratungstate market (APT  market) keeps quiet this week, and the market participants are cautious in making deals. Most of them are watching the market, and the APT prices are stable now. 

A source from an APT factory based in South China noted that they mainly dealt with the old orders in the recent days. 

You can visit the following links for more information about  ammonium paratungstate prices(APT  prices).

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Kevin Anetsberger, General Manager of Midwest Tungsten Servicesaid it must be remembered that there is a correlation between scrap tungsten and raw material prices, but the two markets are not the same.

According to Anetsberger, tungsten from recycled scrap has a more limited market and that market is largely associated with industrial needs. Industrial activity tends to slow down in the summer, he said.

Furthermore, he also noted that in the past few weeks, raw tungsten prices have begun dropping though at a slower pace.
 

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Scrap tungsten prices have reportedly dropped from around $14.50-15 per pound to about $13 per pound in approximately a month.

There are a number of theories as to why this is happening. One business owner says that there are suspicions in the tungsten industry of hoarding. Another said it is likely that the big buyers are trying to force a price correction.

Kevin Anetsberger, General Manager of Midwest Tungsten Service, explained that a lot of what is going on right now are seasonal effects. 
 

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For those experiencing these problems, buyers’ hesitation and their apparent bargaining power appears to make no sense given the overall tungsten market fundamentals. 

Certain principles are basic – supply shortages, current or forecasted – combined with growing demand drives up prices and limits consumers’ bargaining power. But, scrap dealers are seeing the exact opposite.

Joe Sery, CEO and Owner of Tungsten Heavy Powder, who said he has only heard of the slowdown from another dealer, confirmed that there are current shortfalls .

And that they will continue due to an increasing number of companies recycling scrap – another suggestion of a thriving industry.
 

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
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Mike Evans of AR Recycling explained that scrap tungsten prices per pound have hit a peak and business has fallen.
Those in the industry are hoping that the numbers will be stronger later this year, he says, specifically from September to December.

Others in the industry have also confirmed this claim of a slowdown. Frank Stanbach of Carbide Cutting Tools9 said that about a month ago the large scrap buyers just stopped buying.

To put things into perspective, he explained, that one company that he has done business with has millions of pounds of scrap on hand and it’s not moving because there are no buyers.

Stirling agreed that part of the problem right now is that buyers do not want to pay the current scrap  tungsten prices.
 

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
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