Wolframite Concentrate Price Was Stable Last Week

Analysis of latest tungsten market in China from Chinatungsten Online: Thin trading was the main state in Chinese tungsten market last week, as the whole market was caught in heavy wait-and-see atmosphere and enterprises became more cautious at the year-end under the pressure of fund flow. Shortage in tungsten concentrate supply was continuing and main production enterprises were reluctant to sell.

Raw material side was limited by the production of mines. Tungsten concentrate flowing into market was reduced, moreover, market stocks was less than 10,000 tonnes due to the rise in price boosting production costs. It was expected that companies that reducing stocks of tungsten concentrate before Chinese New Year will relatively decrease.

tungsten powder picture

Quotations for tungsten products were unchanged. Wolframite concentrate was quoted at $17,054-17,364/t, 55% wolframite concentrate was quoted at $16,744-17,054/t, 55% scheelite concentrate was quoted at $16,434-16,744/t. APT was quoted at $296-299/mtu and medium particle tungsten carbide was quoted at $40.6-41.4/kg.

In the spot market, purchasing prices were higher than mainstream quotations. Quotation for 50% scheelite concentrate in the smelting factories was $0.24/kg, which is equal to $16,744/t. market price of tungsten concentrate was high, and affected by stronger rised mentality, raw materials will be hardly got in the afternoon market.

Mainstream APT price was close to $298/mtu amid less trading was concluded at the price, but some smelters were not planning to sell their products below it. Another problem was cost. The processing cost of APT reached $26,202/t when the product was quoted at $16,744/t.

Taken together, another round of guide prices from large enterprises will be released this week, which is expected to rise to boost market confidence. Although the market is thin and prices are unchanged, the whole market trend is optimistic. Chinatungsten Online forecasts that main product prices may rise with limited space.

Prices of tungsten products on Dec. 18, 2017

tungsten products price picture

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