Today tungsten ore price in China increases again. The quotation of 65W tungsten concentrate based on Ganzhou, Hunan focus on ￥115,000.00-118,000.00 per metric ton based on Ganzhou, Hunan, individuals has moved up to over ￥120,000.00 per metric ton scheelite concentrate mainstream quotation concentrates on ￥112,000.00-115,000.00 per metric ton.

According to the observation of Chinatungsten Online, tungsten ore market still at a loss that purchasing price is high while shipment is low. Insiders from Chinatungsten Online notes, under impact of guiding tungsten ore price and trader’s willing, tungsten ore suppliers will insist to increase tungsten ore price drastically.

The mainstream scrap tungsten price maintains steady. The transaction price excluding tax of bit concentrates on ￥187.00-￥191.00 per kilogram, domestic blade is ￥172.00-￥176.00 per kilogram, imported blade is ￥182-186 per kilogram; scrap pure tungsten block is ￥208.00-￥213.00 per kilogram.

The price of the content of scrap tungsten grinding material which is more than 70W is ￥1330.00 per metric tones unit, 50W-70W is ￥1270.00 per metric tones unit, 30W-40W is ￥1110.00 per metric tones unit. The prices above are steady. 10W-20W tungsten unit to ￥635.00 per metric tones unite while 8W-10W tungsten to ￥571.00 per metric tones unite.

Tungsten ore price goes up constantly. Although transaction volume is not satisfied enough, tungsten ore suppliers are more willing to increase their price at the end of year. The situation of scrap tungsten keeps steady. Under the pressure of weak demand and out of production, the change of tungsten ore price seems no driving force. Chinatungsten Online expects that it is hard for market to break out this pattern in short term.

In the international market, mainly oversea tungsten market price keeps stable as usual. By the night of 7th, the guiding price of MB ferrotungsten in warehouse Rotterdam maintains $42.75-43.50 per kilogram tungsten; the quotation of ammonium paratungstate keeps $304.00-330.00 metric tones unit.

Tungsten miners in China hold confused attitude that only tungsten product price goes up, transaction volume cannot be pushed up relatively. Generally, it is hard to make a deal in tungsten ore market. As to relate tungsten product, price range of ammonium paratungstate (APT) becomes bigger, the highest of them could reach ￥176,000.00/t; scrap tungsten suppliers note that many of them are out of production. Domestic blade based in Henan is firm at ￥172.00-￥176.00 per kilogram. Chinatungsten Online expected that general situation of tungsten product market is steady, some of them has slightly change, which is led by tungsten product guiding price. 

The Tungsten bar market is quiet this week, and many tungsten bar suppliers hold wait-and-see attitudes toward the market. Owing to the increasing tungsten concentrate and ammounious paratungstate (APT) prices, some tungsten bar suppliers intend to increase offers. However, under the current weak demand, the prices are hard to increase sharply.

The tungsten electrode suppliers remains quiet this week, and the trading volume does not see any obvious improvements. The tungsten concentrate and ammounium patatungstate (APT) prices move up slightly, but as consumers are cautious in adding stocks, the tungsten electrode suppliers hold offers stable tentatively and watch the market for a while. A producer based in Hebei, whose output is around 5 tons per month for tungsten electrode, noted that they quote prices for ground thorium tungsten electrode at RMB420-430/kg (USD66.7-68.3/kg) this week, unchanged compared with those of last week. He added that they still keep on production now, and have some stocks in hand. As the demand for tungsten electrode is unfavorable, tungsten electrode suppliers have mainly deal with old orders.

According to higher tungsten concentrate price, many tungsten scraps recyclers lift offers. However, there are few purchasing activities in spot market, as consumers with few orders on hand rebuild stocks cautiously. 

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.

Good morning. First of all, I would like to thank the organizers of the Arctic Technology Conference for inviting me here, and a special thank you to the Canadian Consulate for giving me the opportunity to speak with you here this morning.

COLLECTED BY CHINATUNGSTE - DEC.7, 2012 - Dual listed Wolf Minerals has secured an $82-million funding package to further develop its Hemerdon tungsten and tin project, in Southwest England.