Chinese tungsten scrap drill prices move down
2023-03-17 11:52:51 [Print]
BEIJING (Asian Metal) 17 Mar 23 - Due to the weak demand from the end market, prices for tungsten scrap drill edged down and the market witnessed strong wait-and-see sentiment since early March. At present, mainstream prices for Chinese tungsten scrap drill 70%min decrease to RMB185-188/kg (USD26.87-27.31/kg) delivered D/P, down by about RMB9/kg (USD1.31/kg) from early March. In light of the inactive dealing activities, most consumers hold wait-and-see attitude and insiders reckon that prices for Chinese tungsten scrap drill 70%min would keep soft in the coming week.
A trader in southern China revealed, "At present, prices for tungsten scrap drill 70%min show a downward trend on the whole, as the price of raw material declines and the demand from the end market keeps weak. This week, we offer RMB185/kg (USD26.87/kg) delivered D/P for tungsten scrap drill 70%min and refuse any counteroffers. However, all customers have no intention to purchase. We last sold 10t at RMB188/kg (USD27.31/kg) last week and sold 4t at RMB194/kg (USD28.18/kg) in early March." The trader added that as the price of tungsten concentrate falls slightly, the price of tungsten concentrate WO3 55%min already drops to around RMB115,000/t (USD16,703/t) this week, down by about RMB3,000/t (USD436/t) from early March. The market sees inactive trading activities and the turnover in the tungsten scrap market slows down. In light of the inactive market and the weak demand from the end market, the trader predicts that prices for Chinese tungsten scrap drill 70%min would soften in the coming week.
With a regular monthly sales volume of 20t of tungsten scrap drill 70%min, the trader expects to sell about 15t in March, compared with about 20t in February. They sold a total of about 200t of tungsten scrap drill 70%min in 2022 and hold about 10t of stocks now, basically the same as last month.
Another trader in southern China said, "At present, we offer RMB190/kg (USD27.60/kg) delivered D/P for tungsten scrap drill 70%min and could consider RMB188/kg (USD27.31/kg) for firm bids from regular customers. However, the market sees few deals this week and we last sold about 10t at RMB197/kg (USD28.61/kg) in early March." The trader indicated that the price of tungsten scrap drill keeps soft as the production cost declines slightly and the demand from the end market remains weak. The trader added that the market is filled of strong wait-and-see sentiment and most consumers wait and see the market. They revealed that their customers are reluctant to purchase even the price is as low as RMB185/kg (USD26.87/kg). Considering that the demand keeps weak, the trader anticipates that prices for Chinese tungsten scrap drill 70%min would fall slightly further in the following week.
With a regular monthly sales volume of 30t, the trader expects to sell about 20t in March, down from about 25t in February. Their sales of tungsten scrap drill 70%min totaled about 300t in 2022. They hold about 20t of stocks now, unchanged from the previous month.
A trader in southern China revealed, "At present, prices for tungsten scrap drill 70%min show a downward trend on the whole, as the price of raw material declines and the demand from the end market keeps weak. This week, we offer RMB185/kg (USD26.87/kg) delivered D/P for tungsten scrap drill 70%min and refuse any counteroffers. However, all customers have no intention to purchase. We last sold 10t at RMB188/kg (USD27.31/kg) last week and sold 4t at RMB194/kg (USD28.18/kg) in early March." The trader added that as the price of tungsten concentrate falls slightly, the price of tungsten concentrate WO3 55%min already drops to around RMB115,000/t (USD16,703/t) this week, down by about RMB3,000/t (USD436/t) from early March. The market sees inactive trading activities and the turnover in the tungsten scrap market slows down. In light of the inactive market and the weak demand from the end market, the trader predicts that prices for Chinese tungsten scrap drill 70%min would soften in the coming week.
With a regular monthly sales volume of 20t of tungsten scrap drill 70%min, the trader expects to sell about 15t in March, compared with about 20t in February. They sold a total of about 200t of tungsten scrap drill 70%min in 2022 and hold about 10t of stocks now, basically the same as last month.
Another trader in southern China said, "At present, we offer RMB190/kg (USD27.60/kg) delivered D/P for tungsten scrap drill 70%min and could consider RMB188/kg (USD27.31/kg) for firm bids from regular customers. However, the market sees few deals this week and we last sold about 10t at RMB197/kg (USD28.61/kg) in early March." The trader indicated that the price of tungsten scrap drill keeps soft as the production cost declines slightly and the demand from the end market remains weak. The trader added that the market is filled of strong wait-and-see sentiment and most consumers wait and see the market. They revealed that their customers are reluctant to purchase even the price is as low as RMB185/kg (USD26.87/kg). Considering that the demand keeps weak, the trader anticipates that prices for Chinese tungsten scrap drill 70%min would fall slightly further in the following week.
With a regular monthly sales volume of 30t, the trader expects to sell about 20t in March, down from about 25t in February. Their sales of tungsten scrap drill 70%min totaled about 300t in 2022. They hold about 20t of stocks now, unchanged from the previous month.
