In the recent days, the raw materials’ prices moved up continuously. But as the demand keeps weak, the trading volume is small in the spot market. The tungsten scrap market moves slowly. It is expected that the tungsten scrap market will be inactive in the near future.

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Core Tip: waste tungsten market in a wait state for a while, the turnover has been weaken and the emotions of individual businesses fluctuate, but the overall price is still stable in the whole. The waste tungsten market is expected to run steady in short-term.

Waste tungsten prices remain stable. The transaction price of domestic waste tungsten blade that does not be taxed in mainstream is concentrated in 171-174 yuan / kg, imported blades 180-182 yuan / kg, waste tungsten drill 190-192 yuan / kg, waste pure tungsten blocks 210-214 yuan / kg. The transaction price of waste tungsten grinding material W content of more than 70 degrees in mainstream is 1.76 yuan / kWh; 50-70 degrees 1.66 yuan / kWh; 30-50 degrees 1.5 yuan / kWh, keeps steady.

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Sources in the US have expressed slightly different opinions regarding the short-term outlook for tungsten carbide, however, at present, values and overall demand keeps rather unchanged since the beginning of the month. Activity is in a better state compared to the previous three months, but many are still concerned that larger players will not reenter for consistent purchases for the majority of the year. Prices were forced up slightly last month, and it seems as though Chinese players may be trying to do the same now to entice buys, yet US domestic participants are not experiencing anything to suggest a price hike over the next.

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AIM-listed multi-commodity natural resource company Premier African Minerals has discovered at least two previously unknown, well-mineralised quartz veins at its flagship RHA Tungsten project.

The company reported that the project, which is located in the prospective Kamativi Tin Belt in Zimbabwe, had the potential to be developed into a "low capital and operating cost tungsten mine" in the near term. The company plans to carry out further surface trenching and said sampling is scheduled to be undertaken in the first quarter of 2013 to confirm the surface location and other details.

George Roach, Chief Executive Officer of Premier African Minerals, said: "This update has revealed significant tungsten mineralisation in the form of very coarse wolframite crystals hosted by quartz veins identified from drillhole intersections, and highlights the exceptional prospectivity of our RHA tungsten project."

"It is now our intention to conduct low-cost surface trenching and sampling to confirm the extent of these newly identified quartz veins and define a maiden SAMREC compliant resource in H1 2013. In tandem with this, we are also completing a conceptual mine study, which will determine the most beneficial and cost-effective method of exploiting the known extent of the RHA deposit."

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