Tungsten Concentrate Price Increases Relatively

Details: Category: Tungsten's News; Published on Tuesday, 11 December 2012 02:19; Hits: 3165

Tungsten concentrate prices goes higher but the demand remains dull. Only major buyers collect materials for pushing up prices, but downstream consumers refuse to accept the current price.

A producer based in Jiangxi shared with Asian Metal that China Minmetals offers wolframite 65%min at RMB126,000/t(USD308/mtu) in spot market, and purchases tungsten concentrate now. However, no others can accept the price, and the current mainstream price in tungsten concentrate spot market is RMB120,000/t (USD294/mtu), increased by RMB1,000/t (USD2.4/mtu) on Monday. “There are few purchasing activities in tungsten concentrate spot market, and the terminal demand remains dull,” said the source, adding that most consumers do not hold positive attitude towards future market, and are cautious to rebuild stocks in advance.

Unless consumers see upward trend in near term, they will keep watching under the sluggish economic situation. The source believes that without support from downstream tungsten concentrate spot market, the price only has limited room to go up further.

A producer based in Hunan who has producing volume of 300 tons stated that they released 500 tons of wolframite 60%min at RMB125,000/t (USD306/mtu) to major buyer last week, and the payment will be arranged two months later. No consumers can accept the price in tungsten concentrate spot market, and ammounium paratungstate producers’ psychological price is around RMB120,000/t (USD294/mtu). “The supply of tungsten concentrate will be tight because more and more mines will halt production in the following two months,” the source expressed.

The source expressed that the basic demand is so weak, and he has no confidence towards future market.