Tungsten market fall ends?

BEIJING (Asian Metal) 1 Aug 05 – As the tungsten market got clear during the last few days, some market participants think the prices for tungsten products are stabilized at around RMB80,000/t (USD152/mtu) for tungsten concentrate and RMB130,000/t (USD181/mtu) for APT, and will stay at these prices until the market rebound.

A Jiangxi APT smelter told Asian Metal that they quote their material for RMB135,000/t (USD188/mtu) now, a little higher than RMB130,000 (USD181/mtu) two days ago. The sales manager said: “Some people were eager to sell their material last week and lowered their prices.Asian Metal Copyright He said: “I think the market is getting more clear now, in comparison with two weeks ago, and we start to get inquires on tungsten carbide.Asian Metal Copyright The activities pulled the mainstream price down a little because many other smelters followed.Asian Metal Copyright He said: “I think the market is getting more clear now, in comparison with two weeks ago, and we start to get inquires on tungsten carbide.Asian Metal Copyright Now, people tend to hold their materials and watch the market, so the price didn’t drop this week, and some even rose a little.Asian Metal Copyright Now, people tend to hold their materials and watch the market, so the price didn’t drop this week, and some even rose a little.Asian Metal Copyright”

“This is a good sign,” said the source. “I’d say the market is more mature, and people are calm down now.Asian Metal Copyright “I’d say the market is more mature, and people are calm down now.Asian Metal Copyright If buyers have no plans to buy, it doesn’t matter how low our price is.Asian Metal Copyright “I’d say the market is more mature, and people are calm down now.Asian Metal Copyright I think people are realizing the point, and the price will keep at this level before demands get strong again.”

A Beijing tungsten carbide producer told Asian Metal that they bought 5 tons APT last weekend for RMB135,000/t (USD188/mtu) , and the purchasing manager said that they received the same inquires this week. He said: “I think the market is getting more clear now, in comparison with two weeks ago, and we start to get inquires on tungsten carbide.Asian Metal Copyright“But only for long-term contracts,” said a sales representative.Asian Metal Copyright It is a good start, so I believe the market will rebound soon.”

A Guangxi APT smelter quote their material at RMB130,000/t (USD181/mtu).“But only for long-term contracts,” said a sales representative.Asian Metal Copyright The sales manager said: “Some people were eager to sell their material last week and lowered their prices.Asian Metal Copyright “We wouldn’t give discount for short-term or small amount deals.Asian Metal Copyright The activities pulled the mainstream price down a little because many other smelters followed.Asian Metal Copyright It’s not worth of doing so, because we are not that despaired.”