Tungsten Concentrate Market Sees Few Deals

The tungsten concentrate offers increased slightly further these days, but owing to the weak demand, the trading volume did not see obvious improvements. The customers are cautious in purchasing materials now.

Currently, the tungsten prices for wolframite 65% are around RMB118,000-120,000/t (USD288-293/mtu), and the prices for scheelite 65% are around RMB118,000-119,000/t (USD288-291/mtu). Moreover, the tungsten concentrate market sees some higher offers.

A producers based in Guangxi, whose output is around 30 tons per month, noted that they make offers for wolframite 65%min at RMB118,000-120,000/t (USD288-293/mtu) this week, but only few deals are concluded in the spot market.

The source noted that the tungsten concentrate price keeps stable because of soft supply. With approaching of the end of the year, many downstream factories plan to halt production and the demand for tungsten concentrate will keep decreasing. It is expected that the tungsten concentrate market will keep inactive in a short time.

An end-user based in Jiangxi stated that they receive offers for wolframite 60%min at around RMB118,000-120,000/t (USD288-294/mtu). He added that some offers are even higher in the spot market, but only a few deals are concluded in small quantities. As they still have some stocks in hand, they are unwilling to add tungsten concentrate in a short time.

The source said that they mainly produce the tungsten powder, and their offers for medium-sized tungsten carbide powder are at RMB280/kg (USD44.5/kg) now. However, under the current high tungsten concentrate offers, they have to increase offers, but the customers are inactive in purchasing materials. The source expressed that the basic demand is so weak, and he has no confidence towards future market. 

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