Tungsten market summary July 4-8
2005-07-11 14:33:07 【Print】
BEIJING (Asian Metal) 11 Jul 05 - Unlike that in past week, when the prevailing price for tungsten conc and tungsten APT was around RMB105,000-110,000/t and RMB180,000-190,000/t respectively, the price fall for tungsten products has speeded up this week.
Early this week, the price for tungsten conc and tungsten APT declined to RMB95,000-100,000/t and RMB165,000-175,000/t. Later this week, the price has declined again to as low as RMB90,000-95,000/t and RMB158,000-168,000/t.
Compared with later last week, the price for the two main tungsten products has reduced by RMB15,000/t and RMB22,000/t.
Many industry participants feel puzzled on the further market development. They don't know where the market will go.
It is said that, in Jiangxi Province, tungsten concs are changing hand in a range of RMB60,000-70,000/t, which was confirmed by a major tungsten smelter, who is running 100tpm for tungsten APT on a basis of 3,000tpy production capacity. But at same time, the firm said that on such a low price, only small quantities are available, with possibly poor quality.
Another China major tungsten product smelter reported an offer from Hunan Province at a price of RMB65,000/t for white tungsten conc.
For the unclear market trend, a Hunan major tungsten carbide smelter has halted purchasing since last week, but said the current tungsten conc prices are in a range of RMB90,000-95,000/t. The smelter has large stock of white tungsten conc, which has to be mixed with black tungsten ones for processing other tungsten products.
But most companies think the mainstream prices for tungsten conc are around RMB90,000/t
As for APT, a North China major smelter said the price should be in a range of RMB160,000-170,000/t. Lower than the number would mean no profit for it. While a large South China smelter quotes a little over RMB160,000/t.
Asian Metal's assessment for the workable prices for APT are in a range of RMB158,000-165,000/t.
The export market is very quiet this week. Although suppliers still quote high prices as over USD270/t, few deals are heard. Insiders thought that, if any, the price might be in a range of USD230-250/mtu.
For next week, industry participants tend to believe the market prices will continue the current slipping trend, with possible new levels hard to predict, but the rumored RMB70,000-80,000/t for tungsten conc is with high possibilities to become reality.
