Tungsten Concentrate Market Shows Uptrend in China

From late March, the tungsten concentrate prices moved up gradually because some companies purchased materials in relatively large quantities, and the tungsten concertrate market showed the uptrend. Many tungsten concentrate suppliers hold offers firm and even increase slightly, but the trading volume does not improve obviously with the soft demand.

 Tungsten concentrate market shows uptrend. The offers are increasing, but the transaction price moves up slowly. He said that the offers for wolframite 60% are at RMB120,000-122,000/t (USD295-300/mtu), and some offers are higher in the spot market.

The source added that the trading volume does not recover obviously, and many downstream customers still purchase from hand to mouth. It is expected that the tungsten prices will be firm and increase further as the suppliers do not eager to sell materials with the firm offers.

An end-user said that they purchased a batch of wolframite 55% at RMB118,000/t(USD290/mtu) late last month. The offers increase to around RMB118,500-119,000/t (USD292-293/mtu) this week, and some offers are higher in the spot market.

The source expressed that under the current tungsten concentrate prices, they have to make offers for APT at RMB181,000-182,000/t (USD327-329/mtu). However, the customers are cautious in making deals, and watch the market for a while. Looking ahead, he said that the tungsten concentrate market will go up slightly in the near future.

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