Tungsten Concentrate Prices Move Up Further

China tungsten concentrate prices move up gradually this week, and the suppliers are inactive in selling materials now. However, the demand from the terminal products does not recover completely, and many tungsten market participants hold wait and see attitudes towards the future tungsten concentrate market.

Tungsten concentrate market moved up in the recent two weeks. The offers for wolframite 55% are at RMB121,000-122,000/t (USD298-300/mtu) this week, and some offers are higher in the spot market. However, with the increasing prices, some suppliers are cautious in making deals.

As some companies purchased materials from late last month, the tungsten concentrate prices increased gradually. Moreover, some tungsten concentrate factories mainly deal with the long-term orders, and have few spot stocks in hand. Looking ahead, he expressed that the tungsten market will go up further in a short time.

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