Tungsten Concentrate Offers Move Up

The real demand from the downstream markets does not recover. However, as some companies make purchase, the tungsten concentrate prices are pushed up. Currently, the tungsten concentrate suppliers do not eager to sell materials, and watch the market for a while.

A source from a tungsten concentrate factory based in Hunan, whose regular capacity is around 300 tons per month, noted that the tungsten concentrate market is inactive. He said that they make offers for scheelite 60% at RMB117,000-118,000/t (USD288-290/mtu) this week, which increased slightly compared with those of last week. He said that inquires are few in the spot market, they mainly deal with the long-term orders.

The source told Asian Metal that the tungsten concentrate market is quiet as the demand from the downstream markets does not pick up. But the tungsten concentrate offers increase as some companies purchase materials. Looking ahead, he thinks that the market will be quiet in a short time.

An end-user based in South China expressed that the offers for tungsten concentrate move up this week. He said that they receive the offers for wolframite 55-60% at RMB117,000-119,000/t (USD288-293/mtu), and some offers are even at RMB120,000/t (USD295/mtu). He said that they only purchased a batch of wolframite 55% at RMB117,000/t (USD288/mtu) last week, and will watch the market for a while.

The source said that the APT offers increase accordingly, but the downstream customers are inactive in making deals. He said that they raise offers for APT to RMB179,000/t (USD324/mtu), but the customers are willing to accept the prices at RMB177,000/t (USD320/mtu). Looking ahead, he said that as the demand from the downstream customers is weak, the market will not rebound obviously in a short time.

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