State Council Environmental Inspectors in Ganzhou Stimulates Tungsten Price

Tungsten products completely rose up since last week. It has lasted for over 10 days. Due to the acceptance and drive of tungsten raw material enterprise, jump in tungsten price appears unexpected, especially tungsten concentrate and APT. There are no prompt goods in the market at present. Quotation of APT is in a chaos due to the lack of tungsten concentrate and disorder of market.

The price of tungsten concentrate is approximately 70,000.00RMB/ton, APT is 110,000.00RMB/ton. However, small deal under high price is not representative, the whole market transition is negative. The sudden rising in price makes down stream enterprise confused and hesitate to buy.

Coincidentally, APT price in European market also rebounds. The quoted price is 180~190USD/ton, which rises about 5 dollars compared to last week. Price of ferro tungsten is around 24.3~25USD/ton, which rises about 0.15 dollars. Europe should be in its summer break, the price is intended to be stable. The flowing of the price this time is completely affected by China market.

Another important factor is that state council environmental inspectors settled in Ganzhou last week forces some small APT metallurgy factory to shut down and rectification due to its unqualified environmental protection problems. It may last for one week or even a month. This causes the tungsten market even worse which it has already stays in a situation that manufacturers being reluctant to sell which causes lack of raw material in the market. The supply is getting more nervous and price rises even higher. It is obvious that environmental protection principle has already been an important theory that should be complied in every industry.

The poor demanding has always been the block for rise of tungsten price. However, the markup at present is the main trend. Although there may be risk, it is the challenge and opportunity as well.

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